https://www.taxtmi.com/caselaws?id=205816 The court upheld the validity of reassessment proceedings initiated by the Assessing Officer beyond the limitation period, emphasizing the requirement of true and full disclosure by the assessee under Section 147 of the Income Tax Act. The court rejected the petitioner's arguments, stating that mere production of account books does not constitute full disclosure, allowing the Assessing Officer to initiate reassessment based on evidence deducible from documents. The court emphasized the necessity for specific disclosure of relevant items by the assessee and dismissed the petition, citing lack of merit in the petitioner's contentions. en-us Tue, 30 Nov 2010 00:00:00 +0530 Sat, 24 Sep 2011 00:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205816 The court upheld the validity of reassessment proceedings initiated by the Assessing Officer beyond the limitation period, emphasizing the requirement of true and full disclosure by the assessee under Section 147 of the Income Tax Act. The court rejected the petitioner's arguments, stating that mere production of account books does not constitute full disclosure, allowing the Assessing Officer to initiate reassessment based on evidence deducible from documents. The court emphasized the necessity for specific disclosure of relevant items by the assessee and dismissed the petition, citing lack of merit in the petitioner's contentions. Case-Laws Income Tax Tue, 30 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205816