https://www.taxtmi.com/caselaws?id=34620 A reopening notice under sections 147 and 148 was upheld where the earlier assessment under section 143(3) had not meaningfully examined the valuation and character of income from transfer of the right to purchase a plot. The recorded material showed that the Assessing Officer formed a reason to believe that income had escaped assessment after applying mind, so the case was not treated as a mere change of opinion. At the notice stage, the existence of relevant material and recorded reasons was sufficient, and writ interference was declined. en-us Thu, 30 Apr 2009 00:00:00 +0530 Thu, 04 Sep 2025 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34620 A reopening notice under sections 147 and 148 was upheld where the earlier assessment under section 143(3) had not meaningfully examined the valuation and character of income from transfer of the right to purchase a plot. The recorded material showed that the Assessing Officer formed a reason to believe that income had escaped assessment after applying mind, so the case was not treated as a mere change of opinion. At the notice stage, the existence of relevant material and recorded reasons was sufficient, and writ interference was declined. Case-Laws Income Tax Thu, 30 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34620