https://www.taxtmi.com/caselaws?id=219278 The court upheld the validity of reassessment proceedings under Section 148 of the Income Tax Act, 1961, for the assessment year 2005-06, finding prima facie belief of income escapement based on non-disclosure of foreign travel expenditures. The court dismissed allegations of malafide intent, emphasizing the need for credible material supporting the belief of income escapement. It concluded that the Assessing Officer had jurisdiction to reopen the assessment, satisfying the conditions under the first proviso to Section 147. The court dismissed the writ petition and directed the Assessing Officer to address the petitioner's objections promptly, without delving into personal allegations between the parties. en-us Fri, 19 Oct 2012 00:00:00 +0530 Fri, 25 Oct 2013 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219278 The court upheld the validity of reassessment proceedings under Section 148 of the Income Tax Act, 1961, for the assessment year 2005-06, finding prima facie belief of income escapement based on non-disclosure of foreign travel expenditures. The court dismissed allegations of malafide intent, emphasizing the need for credible material supporting the belief of income escapement. It concluded that the Assessing Officer had jurisdiction to reopen the assessment, satisfying the conditions under the first proviso to Section 147. The court dismissed the writ petition and directed the Assessing Officer to address the petitioner's objections promptly, without delving into personal allegations between the parties. Case-Laws Income Tax Fri, 19 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219278