https://www.taxtmi.com/caselaws?id=459538 The Delhi HC dismissed a writ petition challenging the reopening of assessment under Section 147. The petitioner contested the continuation of assessment proceedings after the Supreme Court's judgment in Ashish Agarwal case, arguing the assessment should be conducted under Section 148A(b). The HC held that the Assessing Officer was not disabled from examining the entire case, including allegations of loan diversion to sister concerns mentioned in the original reasons to believe. The court found the credible information forming the basis of the assessment opinion specifically addressed these transactions, making the challenge unsustainable. en-us Wed, 10 Jul 2024 00:00:00 +0530 Tue, 17 Dec 2024 18:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459538 The Delhi HC dismissed a writ petition challenging the reopening of assessment under Section 147. The petitioner contested the continuation of assessment proceedings after the Supreme Court's judgment in Ashish Agarwal case, arguing the assessment should be conducted under Section 148A(b). The HC held that the Assessing Officer was not disabled from examining the entire case, including allegations of loan diversion to sister concerns mentioned in the original reasons to believe. The court found the credible information forming the basis of the assessment opinion specifically addressed these transactions, making the challenge unsustainable. Case-Laws Income Tax Wed, 10 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459538