https://www.taxtmi.com/caselaws?id=450195 Reopening of assessment under sections 147 and 148 requires the Assessing Officer to have an objective basis for the belief that income has escaped assessment; subjective satisfaction or borrowed satisfaction is insufficient. The first proviso to section 147 also limits reopening where the assessee has fully and truly disclosed all material facts. The Supreme Court declined to interfere with the High Court's view in favour of the assessee and dismissed the Special Leave Petition. en-us Mon, 26 Feb 2024 00:00:00 +0530 Mon, 11 May 2026 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450195 Reopening of assessment under sections 147 and 148 requires the Assessing Officer to have an objective basis for the belief that income has escaped assessment; subjective satisfaction or borrowed satisfaction is insufficient. The first proviso to section 147 also limits reopening where the assessee has fully and truly disclosed all material facts. The Supreme Court declined to interfere with the High Court's view in favour of the assessee and dismissed the Special Leave Petition. Case-Laws Income Tax Mon, 26 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450195