https://www.taxtmi.com/caselaws?id=464565 ITAT Kolkata (AT) held that reopening assessment under s.147 was unjustified because the AO's reasons reflected only suspicion, not a reasonable belief that income had escaped assessment. Broker's post-trade client-code modifications were accepted as a regular business practice and no material linked those modifications to tax-escape. Lacking basis to form belief, the reassessment notice failed; the appeal by the assessee was allowed. en-us Wed, 15 Jan 2020 00:00:00 +0530 Tue, 04 Nov 2025 20:06:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464565 ITAT Kolkata (AT) held that reopening assessment under s.147 was unjustified because the AO's reasons reflected only suspicion, not a reasonable belief that income had escaped assessment. Broker's post-trade client-code modifications were accepted as a regular business practice and no material linked those modifications to tax-escape. Lacking basis to form belief, the reassessment notice failed; the appeal by the assessee was allowed. Case-Laws Income Tax Wed, 15 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464565