https://www.taxtmi.com/caselaws?id=152316 The court found in favor of the petitioners in a case concerning the validity of a notice issued under Section 148 of the Income-tax Act for reopening an assessment after the statutory period had expired. The court ruled that there was no failure on the part of the petitioners to disclose material facts, invalidating the notice issued after the statutory period. Additionally, the court held that the loan in question had been disclosed in the tax return and accepted during the original assessment, concluding that the Assessing Officer lacked jurisdiction to reopen the assessment. The court allowed the writ application, setting aside the notice and assessment order. en-us Fri, 21 Aug 2009 00:00:00 +0530 Sun, 02 Nov 2014 20:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152316 The court found in favor of the petitioners in a case concerning the validity of a notice issued under Section 148 of the Income-tax Act for reopening an assessment after the statutory period had expired. The court ruled that there was no failure on the part of the petitioners to disclose material facts, invalidating the notice issued after the statutory period. Additionally, the court held that the loan in question had been disclosed in the tax return and accepted during the original assessment, concluding that the Assessing Officer lacked jurisdiction to reopen the assessment. The court allowed the writ application, setting aside the notice and assessment order. Case-Laws Income Tax Fri, 21 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152316