Reopening in the case of Assessee was done based on information available on insight portal regarding accommodation entries and huge cash deposits. The issue before the High Court \u00a0was whether a change in the name of the Assessee resulted in loss of jurisdiction. The High Court \u00a0held that the Assessee was still within the same territorial jurisdiction. A name change does not automatically divest the AO of his powers. The other issue before the High Court \u00a0was whether the AO has \u2018reasons to believe\u2019 that income had escaped assessment. The High Court \u00a0held that no evidence was referred to while recording reasons and hence the reassessment notice was quashed. SLP dismissed. (AY. 2017-18)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 147: Reassessment-Cash credits-Change in name-Territorial jurisdiction-Information on Insight portal-Held, mere change in name does not lead to change in jurisdiction-Held, no evidence relied on during recording of reasons-Reopening quashed-SLP dismissed. [S. 68, 124(1),148, Art. 136] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-65068","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gVu","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=65068"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65068\/revisions"}],"predecessor-version":[{"id":65069,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/65068\/revisions\/65069"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=65068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=65068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=65068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}