https://www.taxtmi.com/caselaws?id=451050 Reopening of assessment under section 147 depends on the Assessing Officer having valid reasons to believe and satisfying the jurisdictional precondition for issuing notice under section 148. The High Court held that the recorded reason alleging failure to disclose fully and truly all material facts was incorrect, so the condition for reopening was not met and jurisdiction could not be assumed. The Supreme Court did not interfere with that order and dismissed the special leave petition, while keeping the question of law open for decision in an appropriate case. en-us Fri, 15 Mar 2024 00:00:00 +0530 Sat, 09 May 2026 10:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=451050 Reopening of assessment under section 147 depends on the Assessing Officer having valid reasons to believe and satisfying the jurisdictional precondition for issuing notice under section 148. The High Court held that the recorded reason alleging failure to disclose fully and truly all material facts was incorrect, so the condition for reopening was not met and jurisdiction could not be assumed. The Supreme Court did not interfere with that order and dismissed the special leave petition, while keeping the question of law open for decision in an appropriate case. Case-Laws Income Tax Fri, 15 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=451050