https://www.taxtmi.com/caselaws?id=435601 The Court quashed the notice issued under Section 148 of the Income Tax Act and the order disposing of objections, finding that the reassessment proceedings initiated solely based on audit objections lacked independent application of mind by the Assessing Officer. The Court held that the Assessing Officer's reliance on audit objections without forming his own belief rendered the reopening unsustainable, deeming it a colorable exercise of jurisdiction. en-us Mon, 20 Feb 2023 00:00:00 +0530 Fri, 23 Jun 2023 17:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435601 The Court quashed the notice issued under Section 148 of the Income Tax Act and the order disposing of objections, finding that the reassessment proceedings initiated solely based on audit objections lacked independent application of mind by the Assessing Officer. The Court held that the Assessing Officer's reliance on audit objections without forming his own belief rendered the reopening unsustainable, deeming it a colorable exercise of jurisdiction. Case-Laws Income Tax Mon, 20 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435601