https://www.taxtmi.com/caselaws?id=254264 The court upheld the legality of the notice issued under Section 148 of the Income Tax Act to re-open the assessment for AY 2008-09 due to discrepancies in the disclosure of non-refundable security deposits and sale proceeds. The assessment was re-opened beyond four years as the assessee failed to fully disclose all material facts necessary for assessment. The court found the reasons provided by the Assessing Officer valid, concluding that there was a failure to disclose essential information, meeting the jurisdictional requirement for re-opening the assessment. The writ petition was dismissed, affirming the validity of the re-assessment reasons. en-us Tue, 09 Dec 2014 00:00:00 +0530 Wed, 17 Dec 2014 10:41:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254264 The court upheld the legality of the notice issued under Section 148 of the Income Tax Act to re-open the assessment for AY 2008-09 due to discrepancies in the disclosure of non-refundable security deposits and sale proceeds. The assessment was re-opened beyond four years as the assessee failed to fully disclose all material facts necessary for assessment. The court found the reasons provided by the Assessing Officer valid, concluding that there was a failure to disclose essential information, meeting the jurisdictional requirement for re-opening the assessment. The writ petition was dismissed, affirming the validity of the re-assessment reasons. Case-Laws Income Tax Tue, 09 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254264