https://www.taxtmi.com/caselaws?id=767627 The HC upheld the reopening of the assessment for the year 2017-18 under Section 148 of the Income Tax Act, 1961, finding it justified. The notice was issued within the permissible timeframe, and discrepancies in explanations regarding cash deposits provided sufficient grounds to believe income had escaped assessment. The Court distinguished this case from the precedent set by Aroni Commercials Limited, determining that the reopening was based on new information rather than a mere change of opinion. The petition was dismissed, affirming the validity of the notice for reopening the assessment. en-us Mon, 17 Mar 2025 00:00:00 +0530 Fri, 21 Mar 2025 08:25:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767627 The HC upheld the reopening of the assessment for the year 2017-18 under Section 148 of the Income Tax Act, 1961, finding it justified. The notice was issued within the permissible timeframe, and discrepancies in explanations regarding cash deposits provided sufficient grounds to believe income had escaped assessment. The Court distinguished this case from the precedent set by Aroni Commercials Limited, determining that the reopening was based on new information rather than a mere change of opinion. The petition was dismissed, affirming the validity of the notice for reopening the assessment. Case-Laws Income Tax Mon, 17 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767627