https://www.taxtmi.com/caselaws?id=75905 The court dismissed the petition in a case involving income tax proceedings, underpricing of shares, and limitations on assessment orders. The judgment emphasized that technical defaults in assessment did not result in a finding on merits in favor of the petitioner. The accused admitted to underpricing shares, leading to income tax evasion. Despite incomplete assessment proceedings, the court clarified that this did not warrant discharge in the prosecution proceedings for willful evasion of income tax. The petitioner was advised to seek exemption from personal appearance due to the prolonged pendency of the case. en-us Mon, 26 Apr 2010 00:00:00 +0530 Tue, 06 Sep 2011 18:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75905 The court dismissed the petition in a case involving income tax proceedings, underpricing of shares, and limitations on assessment orders. The judgment emphasized that technical defaults in assessment did not result in a finding on merits in favor of the petitioner. The accused admitted to underpricing shares, leading to income tax evasion. Despite incomplete assessment proceedings, the court clarified that this did not warrant discharge in the prosecution proceedings for willful evasion of income tax. The petitioner was advised to seek exemption from personal appearance due to the prolonged pendency of the case. Case-Laws Income Tax Mon, 26 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75905