https://www.taxtmi.com/caselaws?id=211363 The court dismissed the writ petitions challenging the reassessment proceedings under Section 147 of the Income Tax Act, holding that the reassessment notice was within the jurisdiction and limitation period. The petitioner's contention of full and true disclosure during the original assessment was rejected, emphasizing that mere production of account books does not fulfill this requirement. The court highlighted the importance of disclosing all material facts and directed the petitioner to present relevant pleas during reassessment. Previous judgments cited by the petitioner were deemed irrelevant as they did not consider Explanation 1 to Section 147 of the Act. en-us Tue, 24 Jan 2012 00:00:00 +0530 Thu, 15 Mar 2012 16:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211363 The court dismissed the writ petitions challenging the reassessment proceedings under Section 147 of the Income Tax Act, holding that the reassessment notice was within the jurisdiction and limitation period. The petitioner's contention of full and true disclosure during the original assessment was rejected, emphasizing that mere production of account books does not fulfill this requirement. The court highlighted the importance of disclosing all material facts and directed the petitioner to present relevant pleas during reassessment. Previous judgments cited by the petitioner were deemed irrelevant as they did not consider Explanation 1 to Section 147 of the Act. Case-Laws Income Tax Tue, 24 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211363