https://www.taxtmi.com/caselaws?id=776587 SC dismissed the special leave petition, holding that the reasons recorded for reopening under section 147 were based on borrowed satisfaction from investigative information and did not disclose any live link or fresh material connecting the assessee's penny-share/stock transactions to escapement of income. The Court found the assessing officer assumed jurisdiction without independent application of mind; nevertheless, no interference under Article 136 was warranted and the SLP was dismissed, with pending applications disposed. en-us Mon, 28 Apr 2025 00:00:00 +0530 Mon, 01 Sep 2025 10:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776587 SC dismissed the special leave petition, holding that the reasons recorded for reopening under section 147 were based on borrowed satisfaction from investigative information and did not disclose any live link or fresh material connecting the assessee's penny-share/stock transactions to escapement of income. The Court found the assessing officer assumed jurisdiction without independent application of mind; nevertheless, no interference under Article 136 was warranted and the SLP was dismissed, with pending applications disposed. Case-Laws Income Tax Mon, 28 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776587