Reopening of assessment justified on valid section 151 sanctions & prima facie view of Income escapement

Smt. Premlata Soni Vs National E-assessment Centre, Delhi and anr. (Madhya Pradesh High Court) Conclusion: Re-opening of the assessment proceeding was conducted on the basis of legally valid sanction accorded by the authority under provisions of Section 151 and the same was justified as it had been initiated on the basis of the material which had given rise to “reason to believe” as well as escapement of assessment had been quantified by AO. Held: In the instant case, the transaction on which reassessment proceedings had been initiated pertained to transfer of a rural agricultural land. Fo...