Promissory note presumption of consideration survives blank-signature and income-tax non-disclosure objections when admissions and attesting evidence ...
Validity of reopening of assessment - The High court observed that the reasons for reopening did not specifically allege any failure on the part of the petitioner to disclose all material facts. Moreover, the issues raised were already considered during the original assessment proceedings. Therefore, the reopening based on a change of opinion was not justified.
Validity of reopening of assessment - The High court observed that the reasons for reopening did not specifically allege any failure on the part of the petitioner to disclose all material facts. Moreover, the issues raised were already considered during the original assessment proceedings. Therefore, the reopening based on a change of opinion was not justified.
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