https://www.taxtmi.com/caselaws?id=432433 The court dismissed the petitions challenging the reopening of assessments for the years 2011-12, 2012-13, and 2013-14. It found that the Assessing Officer had sufficient material, including unaccounted cash transactions, to justify the reopening. The notices and orders were deemed valid, issued with proper sanctions and based on substantial evidence. The court upheld the jurisdiction to reopen assessments after six years if new material indicated income escapement. Reasons for reopening were considered adequate, and procedural compliance by authorities was affirmed. The petitioner's objections were rejected, emphasizing available legal remedies for challenging final assessment orders. en-us Mon, 02 Jan 2023 00:00:00 +0530 Fri, 12 May 2023 16:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432433 The court dismissed the petitions challenging the reopening of assessments for the years 2011-12, 2012-13, and 2013-14. It found that the Assessing Officer had sufficient material, including unaccounted cash transactions, to justify the reopening. The notices and orders were deemed valid, issued with proper sanctions and based on substantial evidence. The court upheld the jurisdiction to reopen assessments after six years if new material indicated income escapement. Reasons for reopening were considered adequate, and procedural compliance by authorities was affirmed. The petitioner's objections were rejected, emphasizing available legal remedies for challenging final assessment orders. Case-Laws Income Tax Mon, 02 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432433