https://www.taxtmi.com/caselaws?id=774762 Reopening of income tax assessments may proceed only where the assessing officer possesses information that suggests income chargeable to tax has escaped assessment; the statute replaces the older 'reason to believe' test with an 'information' standard confined to specified categories. An audit objection qualifies as such information only if it unambiguously opines that the original assessment was not made in accordance with the statute and sets out reasons; vague objections do not suffice. The assessing officer must consider the assessee's reply before concluding the case is fit for reassessment, and prior approval of the specified authority is required for the order under the supplementary procedure. The impugned notice is quashed but reassessment is remitted limited to processing and professional charges, with a fresh notice permitted within four weeks. en-us Wed, 09 Jul 2025 00:00:00 +0530 Mon, 09 Feb 2026 17:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774762 Reopening of income tax assessments may proceed only where the assessing officer possesses information that suggests income chargeable to tax has escaped assessment; the statute replaces the older 'reason to believe' test with an 'information' standard confined to specified categories. An audit objection qualifies as such information only if it unambiguously opines that the original assessment was not made in accordance with the statute and sets out reasons; vague objections do not suffice. The assessing officer must consider the assessee's reply before concluding the case is fit for reassessment, and prior approval of the specified authority is required for the order under the supplementary procedure. The impugned notice is quashed but reassessment is remitted limited to processing and professional charges, with a fresh notice permitted within four weeks. Case-Laws Income Tax Wed, 09 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774762