https://www.taxtmi.com/caselaws?id=433911 The High Court of Bombay held that the assessing Officer's notice to reopen the assessment for the assessment year 2016-17 lacked jurisdiction as it failed to establish a direct nexus between the reasons provided and the belief of income escapement. The Court emphasized the importance of meeting the statutory requirements under Section 147 of the Income Tax Act and concluded that the reasons recorded did not fulfill the necessary criteria for reassessment. As a result, the Court ruled in favor of the Petitioner, quashing the notice and setting aside the Order disposing of objections. en-us Fri, 10 Feb 2023 00:00:00 +0530 Thu, 30 Apr 2026 16:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433911 The High Court of Bombay held that the assessing Officer's notice to reopen the assessment for the assessment year 2016-17 lacked jurisdiction as it failed to establish a direct nexus between the reasons provided and the belief of income escapement. The Court emphasized the importance of meeting the statutory requirements under Section 147 of the Income Tax Act and concluded that the reasons recorded did not fulfill the necessary criteria for reassessment. As a result, the Court ruled in favor of the Petitioner, quashing the notice and setting aside the Order disposing of objections. Case-Laws Income Tax Fri, 10 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433911