https://www.taxtmi.com/caselaws?id=752114 The Bombay HC quashed reopening notices under sections 147/148 of the Income Tax Act, ruling that the Assessing Officer failed to independently form reasons to believe for reopening assessments. The court held that material borrowed from DRI authorities and Justice M.B. Shah Commission report without independent application of mind cannot constitute valid grounds for reopening. Regarding mining activities post-2007, the court noted that until the SC's 2014 decision declaring mining leases illegal, assessees had no knowledge of illegality when filing 2009-10 returns, as they continued paying royalty and customs duty with government acceptance. The twin conditions for valid reopening were not satisfied. en-us Fri, 26 Apr 2024 00:00:00 +0530 Thu, 02 May 2024 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752114 The Bombay HC quashed reopening notices under sections 147/148 of the Income Tax Act, ruling that the Assessing Officer failed to independently form reasons to believe for reopening assessments. The court held that material borrowed from DRI authorities and Justice M.B. Shah Commission report without independent application of mind cannot constitute valid grounds for reopening. Regarding mining activities post-2007, the court noted that until the SC's 2014 decision declaring mining leases illegal, assessees had no knowledge of illegality when filing 2009-10 returns, as they continued paying royalty and customs duty with government acceptance. The twin conditions for valid reopening were not satisfied. Case-Laws Income Tax Fri, 26 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752114