https://www.taxtmi.com/caselaws?id=32012 The High Court set aside the order rejecting the petitioner's objections and quashed further proceedings related to the re-assessment notice issued in 2006 as the reasons for re-opening the assessment did not specifically allege any escapement of assessment for the year in question. The Court emphasized the necessity of specific allegations and valid grounds for initiating re-assessment proceedings under Section 147 of the Income-tax Act, ensuring a direct link to the assessment year in question. Each party was directed to bear their own costs. en-us Thu, 18 Dec 2008 00:00:00 +0530 Tue, 06 Jan 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32012 The High Court set aside the order rejecting the petitioner's objections and quashed further proceedings related to the re-assessment notice issued in 2006 as the reasons for re-opening the assessment did not specifically allege any escapement of assessment for the year in question. The Court emphasized the necessity of specific allegations and valid grounds for initiating re-assessment proceedings under Section 147 of the Income-tax Act, ensuring a direct link to the assessment year in question. Each party was directed to bear their own costs. Case-Laws Income Tax Thu, 18 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32012