https://www.taxtmi.com/caselaws?id=233461 The High Court upheld the validity of the reassessment proceedings under Section 147 of the Income Tax Act, 1961. The Court found that the fresh notice issued in 2012 for the A.Y. 2006-07 was justified based on income escapement due to material possession, distinct from the earlier notice on non-filing of the return. The Court dismissed the Petition, stating that the reasons for reopening had a nexus with Section 147, allowing for reassessment. The Petitioner's objection against issuing a fresh notice on the same ground was deemed misconceived, and the Court found no interference warranted, dismissing the Petition without costs. en-us Thu, 21 Mar 2013 00:00:00 +0530 Thu, 02 May 2013 10:25:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233461 The High Court upheld the validity of the reassessment proceedings under Section 147 of the Income Tax Act, 1961. The Court found that the fresh notice issued in 2012 for the A.Y. 2006-07 was justified based on income escapement due to material possession, distinct from the earlier notice on non-filing of the return. The Court dismissed the Petition, stating that the reasons for reopening had a nexus with Section 147, allowing for reassessment. The Petitioner's objection against issuing a fresh notice on the same ground was deemed misconceived, and the Court found no interference warranted, dismissing the Petition without costs. Case-Laws Income Tax Thu, 21 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233461