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M/S Radha Krishan Industries vs The State Of Himachal Pradesh on 20 April, 2021

that the power is exercised for valid reasons when there is tangible material for the Assessing Officer to do so. The test of 'tangible ... Assessing Officer has power to reopen, provided there is "tangible material" to come to the conclusion that there is escapement of income from

assessment and there is an absence of fresh or tangible material on the basis of which the assessment can be reopened. The fact that ... when he proposes to reopen the assessment on the basis of tangible material; (ii) In the present case, during the course of the assessment proceedings

taken place within a period of four years, there is no tangible material on the basis of which the assessement is sought to be reopened ... equally be permissible. Consequently, the test is that there should be tangible material to come to a conclusion that there is an escapement of income

power to reopen the case provided that there is tangible material to come to conclusion that there is escapement of income from ::: Downloaded ... been furnished to the Assessee do not contain any new or tangible material or a reference to any new facts which have come on record

behalf of the Petitioner submitted that - (i) There was no tangible material on the basis of which the Assessing Officer could have formed a reason ... mere change of opinion without the existence of any tangible material before the Assessing Officer. ::: Downloaded on - 09/06/2013

Assessing Officer in the present case and there was no tangible material on the basis of which the assessment could be reopened ... agreement, but a revenue sharing agreement; (ii) The Assessing Officer has tangible material on the basis of which the assessment could be reopened for Assessment

passed after the replies were considered. Hence there was no tangible material before the Assessing Officer to reopen the assessment. 15) On the other hand ... question before the Court is as to whether there was any tangible material before the Assessing Officer to form a reason to believe that income

passed after the replies were considered. Hence there was no tangible material before the Assessing Officer to reopen the assessment. 15) On the other hand ... question before the Court is as to whether there was any tangible material before the Assessing Officer to form a reason to believe that income

powers under Section 147 and 148 and there must be tangible material before the Assessing Officer to prove that income chargeable to tax has escaped ... assessment. The principle that there must be tangible material on the basis of which an assessment is sought to be re-opened even within