https://www.taxtmi.com/caselaws?id=37988 The court quashed the notice issued under Section 148 of the Income-tax Act, finding that the Income-tax Officer (ITO) lacked recorded reasons to believe income had escaped assessment. It held that the reasons for reopening the assessment did not stem from new information, as the relevant legal principles were already established. The court emphasized the necessity of reasonable grounds for the ITO's belief to have jurisdiction to issue such notices. Consequently, the court issued a writ of certiorari and prohibition, preventing the reassessment of the petitioner's income for the year in question. en-us Wed, 08 Sep 1976 00:00:00 +0530 Fri, 02 Apr 2010 14:11:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37988 The court quashed the notice issued under Section 148 of the Income-tax Act, finding that the Income-tax Officer (ITO) lacked recorded reasons to believe income had escaped assessment. It held that the reasons for reopening the assessment did not stem from new information, as the relevant legal principles were already established. The court emphasized the necessity of reasonable grounds for the ITO's belief to have jurisdiction to issue such notices. Consequently, the court issued a writ of certiorari and prohibition, preventing the reassessment of the petitioner's income for the year in question. Case-Laws Income Tax Wed, 08 Sep 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37988