https://www.taxtmi.com/caselaws?id=216174 The court dismissed the petition challenging the reopening of the assessment for the assessment year 1999-2000. It ruled that the notice was valid, as the Assessing Officer had jurisdiction and sufficient grounds to believe that income had escaped assessment. The court upheld the reopening based on the charging of higher interest rates to a sister concern, finding that the petitioner had not fully disclosed all material facts. The petition was dismissed, with the rule discharged and interim relief vacated. en-us Mon, 06 Aug 2012 00:00:00 +0530 Sat, 29 Jun 2013 15:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216174 The court dismissed the petition challenging the reopening of the assessment for the assessment year 1999-2000. It ruled that the notice was valid, as the Assessing Officer had jurisdiction and sufficient grounds to believe that income had escaped assessment. The court upheld the reopening based on the charging of higher interest rates to a sister concern, finding that the petitioner had not fully disclosed all material facts. The petition was dismissed, with the rule discharged and interim relief vacated. Case-Laws Income Tax Mon, 06 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216174