https://www.taxtmi.com/caselaws?id=427780 The Court dismissed the writ petition challenging the reopening of assessment for Assessment Year 2017-18 under the Income Tax Act. The petitioner's arguments regarding insufficient reasons, procedural irregularities, and lack of foul play in previous assessments were considered. The Court emphasized the need for prima facie material to reopen a case based on suspicious transactions during demonetization. It highlighted the importance of fair consideration of the petitioner's reply and natural justice principles. The Assessing Officer was directed to independently decide the matter, keeping the parties' rights and contentions open for further proceedings. en-us Thu, 08 Sep 2022 00:00:00 +0530 Thu, 15 Sep 2022 12:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427780 The Court dismissed the writ petition challenging the reopening of assessment for Assessment Year 2017-18 under the Income Tax Act. The petitioner's arguments regarding insufficient reasons, procedural irregularities, and lack of foul play in previous assessments were considered. The Court emphasized the need for prima facie material to reopen a case based on suspicious transactions during demonetization. It highlighted the importance of fair consideration of the petitioner's reply and natural justice principles. The Assessing Officer was directed to independently decide the matter, keeping the parties' rights and contentions open for further proceedings. Case-Laws Income Tax Thu, 08 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427780