https://www.taxtmi.com/caselaws?id=248214 The court upheld the validity of the notice for reopening the assessment under Section 148 of the Income-tax Act for the assessment year 2006-07. It found that the Assessing Officer had valid reasons to believe that income had escaped assessment due to non-disclosure of material facts by the assessee in relation to investments in bogus companies. The court determined that the reopening was not a mere change of opinion but based on fresh information, and that the procedural requirements, including obtaining approval from the Commissioner, were duly met. Consequently, the court dismissed the petition challenging the reassessment. en-us Tue, 25 Mar 2014 00:00:00 +0530 Mon, 31 Aug 2015 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248214 The court upheld the validity of the notice for reopening the assessment under Section 148 of the Income-tax Act for the assessment year 2006-07. It found that the Assessing Officer had valid reasons to believe that income had escaped assessment due to non-disclosure of material facts by the assessee in relation to investments in bogus companies. The court determined that the reopening was not a mere change of opinion but based on fresh information, and that the procedural requirements, including obtaining approval from the Commissioner, were duly met. Consequently, the court dismissed the petition challenging the reassessment. Case-Laws Income Tax Tue, 25 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248214