https://www.taxtmi.com/caselaws?id=459928 The court quashed the notice and order issued under Section 148A(d) of the Income Tax Act for A.Y. 2018-19, finding the reopening of the assessment unjustified. The court determined that the discrepancies cited were not new information and had already been addressed by the petitioner. It emphasized that reopening assessments require new and tangible material evidence, not merely a change of opinion or absence of scrutiny. The court concluded that the reasons provided for reopening did not meet the necessary legal threshold, and thus, the notice was invalid. en-us Mon, 22 Apr 2024 00:00:00 +0530 Thu, 02 Jan 2025 18:24:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459928 The court quashed the notice and order issued under Section 148A(d) of the Income Tax Act for A.Y. 2018-19, finding the reopening of the assessment unjustified. The court determined that the discrepancies cited were not new information and had already been addressed by the petitioner. It emphasized that reopening assessments require new and tangible material evidence, not merely a change of opinion or absence of scrutiny. The court concluded that the reasons provided for reopening did not meet the necessary legal threshold, and thus, the notice was invalid. Case-Laws Income Tax Mon, 22 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459928