High Court Quashes Reassessment: No New Tangible Material Presented by Revenue, Lack of Nexus Found u/s 147.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Reopening of assessment - - There was no nexus between the reasons to believe that income has escaped assessment and any new tangible material placed on record before the AO - Revenue was unable to point out any fresh tangible material which could form the basis for believing the argument on this aspect. - Reassessment proceedings quashed. - HC....