https://www.taxtmi.com/caselaws?id=785889 Reopening an assessment under the income-tax code was held invalid where the assessing officer had earlier conducted a detailed inquiry under the original assessment and examined eligibility for the industrial deduction; the reassessment notice relied on reasons that lacked any new tangible material forming a fresh "reason to believe". The absence of fresh material defeated the jurisdictional basis for reopening, and the ITAT set aside the reassessment action and allowed the taxpayer's appeal against disallowance of the deduction. en-us Fri, 30 Jan 2026 00:00:00 +0530 Sat, 31 Jan 2026 11:45:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785889 Reopening an assessment under the income-tax code was held invalid where the assessing officer had earlier conducted a detailed inquiry under the original assessment and examined eligibility for the industrial deduction; the reassessment notice relied on reasons that lacked any new tangible material forming a fresh "reason to believe". The absence of fresh material defeated the jurisdictional basis for reopening, and the ITAT set aside the reassessment action and allowed the taxpayer's appeal against disallowance of the deduction. Case-Laws Income Tax Fri, 30 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785889