https://www.taxtmi.com/caselaws?id=245495 The court upheld the legality of re-assessment notices under Section 148 of the Income Tax Act, finding that the Assessing Officer had valid reasons to believe income had escaped assessment. Notices issued beyond four years were deemed valid as the income had not been fully disclosed. The court concluded that the reassessment was not a mere change of opinion but based on tangible material. Assessment proceedings were considered complete for relevant years, allowing for re-assessment. The court dismissed the writ petitions, permitting the assessee to pursue statutory remedies against the re-assessment. en-us Thu, 27 Mar 2014 00:00:00 +0530 Mon, 31 Mar 2014 10:16:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245495 The court upheld the legality of re-assessment notices under Section 148 of the Income Tax Act, finding that the Assessing Officer had valid reasons to believe income had escaped assessment. Notices issued beyond four years were deemed valid as the income had not been fully disclosed. The court concluded that the reassessment was not a mere change of opinion but based on tangible material. Assessment proceedings were considered complete for relevant years, allowing for re-assessment. The court dismissed the writ petitions, permitting the assessee to pursue statutory remedies against the re-assessment. Case-Laws Income Tax Thu, 27 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245495