https://www.taxtmi.com/caselaws?id=766164 Delhi HC quashed reassessment proceedings u/s 148 for AY 2019-20, holding that the AO failed to establish reasons to believe that income had escaped assessment for the relevant year. The court found that materials relating to immovable property transactions from previous years could not justify reopening assessment for AY 2019-20, as such materials were wholly unconnected to that specific assessment year. The writ petition was allowed, and both the order u/s 148A(d) and notice u/s 148 were quashed. en-us Wed, 12 Feb 2025 00:00:00 +0530 Wed, 19 Feb 2025 08:42:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766164 Delhi HC quashed reassessment proceedings u/s 148 for AY 2019-20, holding that the AO failed to establish reasons to believe that income had escaped assessment for the relevant year. The court found that materials relating to immovable property transactions from previous years could not justify reopening assessment for AY 2019-20, as such materials were wholly unconnected to that specific assessment year. The writ petition was allowed, and both the order u/s 148A(d) and notice u/s 148 were quashed. Case-Laws Income Tax Wed, 12 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766164