https://www.taxtmi.com/caselaws?id=765646 Gujarat HC quashed reopening notice u/s 148 for AY 2017-18. Court held that information from Insight Portal regarding cash deposits was already considered during regular assessment proceedings. AO lacked jurisdiction to reopen assessment as no fresh material existed to form reasonable belief that income escaped assessment. The notice was deemed without jurisdiction and constituted mere change of opinion. Decision favored the assessee. en-us Mon, 27 Jan 2025 00:00:00 +0530 Thu, 06 Feb 2025 08:42:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765646 Gujarat HC quashed reopening notice u/s 148 for AY 2017-18. Court held that information from Insight Portal regarding cash deposits was already considered during regular assessment proceedings. AO lacked jurisdiction to reopen assessment as no fresh material existed to form reasonable belief that income escaped assessment. The notice was deemed without jurisdiction and constituted mere change of opinion. Decision favored the assessee. Case-Laws Income Tax Mon, 27 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765646