https://www.taxtmi.com/caselaws?id=78064 The court held that the initiation of proceedings under Section 147 read with Section 148 for the assessment years 1996-97 and 1997-98 was barred and illegal. The court emphasized that the alleged escaped income had already been assessed and determined as not undisclosed income by the Tribunal. Additionally, the notices were issued beyond the permissible period without recording the necessary findings as required under the first proviso to Section 147. As a result, the court allowed the writ petition, quashing the impugned notices and proceedings. en-us Mon, 05 Apr 2010 00:00:00 +0530 Fri, 28 Dec 2012 18:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78064 The court held that the initiation of proceedings under Section 147 read with Section 148 for the assessment years 1996-97 and 1997-98 was barred and illegal. The court emphasized that the alleged escaped income had already been assessed and determined as not undisclosed income by the Tribunal. Additionally, the notices were issued beyond the permissible period without recording the necessary findings as required under the first proviso to Section 147. As a result, the court allowed the writ petition, quashing the impugned notices and proceedings. Case-Laws Income Tax Mon, 05 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78064