https://www.taxtmi.com/caselaws?id=432050 HC held reopening of assessment was valid. Petitioner failed to file returns for AY 2015-16, did not respond to the reopening notice within the time allowed, and filed returns only belatedly; therefore the AO's invocation of reassessment jurisdiction was justified. Explanation (2) to s.147 applied where no return was furnished and income escaping assessment is deemed, and the unexplained amounts warranted reassessment. The court found the respondents possessed material supporting a genuine reason to believe and that reasons were not based on extraneous or irrelevant material. en-us Tue, 11 Oct 2022 00:00:00 +0530 Mon, 17 Nov 2025 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432050 HC held reopening of assessment was valid. Petitioner failed to file returns for AY 2015-16, did not respond to the reopening notice within the time allowed, and filed returns only belatedly; therefore the AO's invocation of reassessment jurisdiction was justified. Explanation (2) to s.147 applied where no return was furnished and income escaping assessment is deemed, and the unexplained amounts warranted reassessment. The court found the respondents possessed material supporting a genuine reason to believe and that reasons were not based on extraneous or irrelevant material. Case-Laws Income Tax Tue, 11 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432050