https://www.taxtmi.com/caselaws?id=262358 The court upheld the validity of the notice issued under Section 148 of the Income Tax Act, 1961, for reassessment of income for the assessment year 2007-08, finding the reasons provided by the Assessing Officer specific and relevant. It determined that the second respondent had obtained necessary approval for reassessment proceedings and agreed with the Revenue's contention of non-disclosure of material facts by the petitioner, justifying reassessment. The court rejected the petitioner's argument of a mere change of opinion and held the notice was not time-barred, affirming the Assessing Officer's jurisdiction to reopen the assessment. The writ petition was dismissed, upholding the validity of the reassessment proceedings. en-us Wed, 15 Jul 2015 00:00:00 +0530 Sat, 08 Aug 2015 06:12:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262358 The court upheld the validity of the notice issued under Section 148 of the Income Tax Act, 1961, for reassessment of income for the assessment year 2007-08, finding the reasons provided by the Assessing Officer specific and relevant. It determined that the second respondent had obtained necessary approval for reassessment proceedings and agreed with the Revenue's contention of non-disclosure of material facts by the petitioner, justifying reassessment. The court rejected the petitioner's argument of a mere change of opinion and held the notice was not time-barred, affirming the Assessing Officer's jurisdiction to reopen the assessment. The writ petition was dismissed, upholding the validity of the reassessment proceedings. Case-Laws Income Tax Wed, 15 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262358