https://www.taxtmi.com/caselaws?id=773726 The HC quashed a reassessment notice issued beyond four years, ruling it invalid due to lack of tangible material. The court held that reassessment proceedings require material evidence beyond what was already available during original assessment. Since the AO based reopening solely on reviewing the return filed and accepted under section 143(1) without any new material, this constituted impermissible review disguised as reopening. The court found the exercise of power under section 147 arbitrary and decided in favor of the assessee. en-us Thu, 19 Jun 2025 00:00:00 +0530 Mon, 02 Mar 2026 17:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773726 The HC quashed a reassessment notice issued beyond four years, ruling it invalid due to lack of tangible material. The court held that reassessment proceedings require material evidence beyond what was already available during original assessment. Since the AO based reopening solely on reviewing the return filed and accepted under section 143(1) without any new material, this constituted impermissible review disguised as reopening. The court found the exercise of power under section 147 arbitrary and decided in favor of the assessee. Case-Laws Income Tax Thu, 19 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773726