https://www.taxtmi.com/caselaws?id=427110 The court upheld the validity of notices issued under section 148 of the Income Tax Act for reopening assessments for the years 2016-2017 and 2017-2018. It was determined that the reopening was justified based on new material from the insight portal, indicating the petitioner's involvement in a scheme not previously known during the initial assessment. The court emphasized that the Assessing Officer's subjective satisfaction, supported by objective assessment, justified the reopening. The court also found the approval under section 151 to be adequate, based on an objective evaluation of the new information, dismissing the petitions and affirming the consequential orders. en-us Wed, 17 Aug 2022 00:00:00 +0530 Thu, 01 Sep 2022 10:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427110 The court upheld the validity of notices issued under section 148 of the Income Tax Act for reopening assessments for the years 2016-2017 and 2017-2018. It was determined that the reopening was justified based on new material from the insight portal, indicating the petitioner's involvement in a scheme not previously known during the initial assessment. The court emphasized that the Assessing Officer's subjective satisfaction, supported by objective assessment, justified the reopening. The court also found the approval under section 151 to be adequate, based on an objective evaluation of the new information, dismissing the petitions and affirming the consequential orders. Case-Laws Income Tax Wed, 17 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427110