Supreme Court Affirms: Reopening Assessments u/s 147 Requires Valid Reasons, Officer's Silence Implies Acceptance of Assessee's View.

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....Reopening of assessment u/s 147 - validity of reasons to believe - The non-rejection of the explanation in the Assessment Order would amount to the Assessing Officer accepting the view of the assessee, thus taking a view/forming an opinion. - SC uphold the order of HC....