https://www.taxtmi.com/caselaws?id=759890 HC held the notice issued under s.147 invalid where the AO relied on information about transactions but dismissed the taxpayer's objections without meaningful consideration. The AO's material consisted of vague observations that disclosed transactions were not reflected in the Demat account and thus income may have escaped assessment, but he did not address or weigh the details submitted by the taxpayer. For failure to form a bona fide reason to believe, the reopening notice was quashed; decision for the assessee. en-us Mon, 23 Sep 2024 00:00:00 +0530 Fri, 19 Sep 2025 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759890 HC held the notice issued under s.147 invalid where the AO relied on information about transactions but dismissed the taxpayer's objections without meaningful consideration. The AO's material consisted of vague observations that disclosed transactions were not reflected in the Demat account and thus income may have escaped assessment, but he did not address or weigh the details submitted by the taxpayer. For failure to form a bona fide reason to believe, the reopening notice was quashed; decision for the assessee. Case-Laws Income Tax Mon, 23 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759890