https://www.taxtmi.com/caselaws?id=249609 The court upheld the notice issued under Section 148 of the Income Tax Act, 1961 to reopen the assessment for Assessment Year 2005-06. The petitioner's objections regarding disclosure of material facts and application of mind were dismissed. The court ruled that the notice could be issued even after an assessment under Section 143(1) if there is a reason to believe income has escaped assessment. The reasons for reopening indicated new material was received during the assessment for AY 2009-10, justifying the belief of escaped income. The petitions were dismissed without costs, allowing the petitioner to address the issues during the reassessment process. en-us Tue, 01 Jul 2014 00:00:00 +0530 Thu, 19 Feb 2015 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249609 The court upheld the notice issued under Section 148 of the Income Tax Act, 1961 to reopen the assessment for Assessment Year 2005-06. The petitioner's objections regarding disclosure of material facts and application of mind were dismissed. The court ruled that the notice could be issued even after an assessment under Section 143(1) if there is a reason to believe income has escaped assessment. The reasons for reopening indicated new material was received during the assessment for AY 2009-10, justifying the belief of escaped income. The petitions were dismissed without costs, allowing the petitioner to address the issues during the reassessment process. Case-Laws Income Tax Tue, 01 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249609