https://www.taxtmi.com/caselaws?id=763412 SC dismissed the special leave petition, upholding the HC's decision that reopening the assessment under s.147 (via s.148A(b)) was valid. The Court found the credible information forming the basis of the opinion specifically referenced alleged diversion of loans to sister concerns, and directed a fresh examination of the petitioner's explanations. The assessment officer was not precluded from examining the whole case, including allegations in the original reasons to believe, and there was no basis to interfere with the impugned order. en-us Mon, 16 Dec 2024 00:00:00 +0530 Wed, 29 Apr 2026 15:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763412 SC dismissed the special leave petition, upholding the HC's decision that reopening the assessment under s.147 (via s.148A(b)) was valid. The Court found the credible information forming the basis of the opinion specifically referenced alleged diversion of loans to sister concerns, and directed a fresh examination of the petitioner's explanations. The assessment officer was not precluded from examining the whole case, including allegations in the original reasons to believe, and there was no basis to interfere with the impugned order. Case-Laws Income Tax Mon, 16 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763412