https://www.taxtmi.com/caselaws?id=776200 The SC dismissed the special leave petition challenging the validity of reopening assessment under section 147. The court upheld the HC's decision that the AO had jurisdiction to initiate proceedings upon being satisfied that there were reasons to believe income had escaped assessment. The SC held that at the notice issuance stage under section 148, the AO need not conclusively determine escaped income but only have prima facie satisfaction. No interference was warranted with the HC's order affirming the continuation of reassessment proceedings. en-us Fri, 02 May 2025 00:00:00 +0530 Wed, 06 Aug 2025 08:19:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776200 The SC dismissed the special leave petition challenging the validity of reopening assessment under section 147. The court upheld the HC's decision that the AO had jurisdiction to initiate proceedings upon being satisfied that there were reasons to believe income had escaped assessment. The SC held that at the notice issuance stage under section 148, the AO need not conclusively determine escaped income but only have prima facie satisfaction. No interference was warranted with the HC's order affirming the continuation of reassessment proceedings. Case-Laws Income Tax Fri, 02 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776200