https://www.taxtmi.com/caselaws?id=238772 The High Court quashed the reassessment proceedings initiated by the Assistant Commissioner of Income Tax under Section 148 for the assessment year 2001-02. The Court held that the petitioner, an Indian construction company, had made full and true disclosure of all material facts during the original assessment, rendering the reassessment unsustainable. Consequently, the Court set aside the order challenging the notice under Section 148 and ruled in favor of the petitioner, quashing the proceedings initiated based on the alleged escapement of income due to excess managerial remuneration. en-us Fri, 23 Aug 2013 00:00:00 +0530 Thu, 31 Oct 2013 08:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238772 The High Court quashed the reassessment proceedings initiated by the Assistant Commissioner of Income Tax under Section 148 for the assessment year 2001-02. The Court held that the petitioner, an Indian construction company, had made full and true disclosure of all material facts during the original assessment, rendering the reassessment unsustainable. Consequently, the Court set aside the order challenging the notice under Section 148 and ruled in favor of the petitioner, quashing the proceedings initiated based on the alleged escapement of income due to excess managerial remuneration. Case-Laws Income Tax Fri, 23 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238772