https://www.taxtmi.com/caselaws?id=235288 The court upheld the validity of the reassessment proceedings under section 147 of the Income-tax Act, finding compliance with statutory requirements. The court rejected the petitioner's challenge to the speaking order passed by the tax authority, emphasizing that the reassessment was justified based on alleged non-disclosure leading to income escapement. Despite objections raised by the petitioner, the court concluded that the reassessment beyond four years was permissible, as it was based on discrepancies in income particulars and not barred by the pendency of an appeal. Consequently, the court dismissed the writ petition, affirming the legality of the reassessment process. en-us Fri, 12 Apr 2013 00:00:00 +0530 Thu, 18 Jul 2013 07:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235288 The court upheld the validity of the reassessment proceedings under section 147 of the Income-tax Act, finding compliance with statutory requirements. The court rejected the petitioner's challenge to the speaking order passed by the tax authority, emphasizing that the reassessment was justified based on alleged non-disclosure leading to income escapement. Despite objections raised by the petitioner, the court concluded that the reassessment beyond four years was permissible, as it was based on discrepancies in income particulars and not barred by the pendency of an appeal. Consequently, the court dismissed the writ petition, affirming the legality of the reassessment process. Case-Laws Income Tax Fri, 12 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235288