2011 (1) TMI 335 - DELHI HIGH COURT - Income Tax

Head Note / Extract:
Reopening of assessment - Income escaping assessment - As the notification has been quashed and the same has not been assailed by the Revenue Department, the reasons for reopening the assessment under section 147/148 of the Income-tax Act, 1961, do not survive - The very basis and foundation for issue of reassessment notice have ceased to exist - Consequently, the writ petition is allowed and the notice issued vide annexure E dated January 28, 1987, is quashed