https://www.taxtmi.com/caselaws?id=3139 The court dismissed the writ petition, upholding the validity of the notice issued under section 148 of the Income-tax Act. It found that the Assessing Officer had sufficient material to initiate reassessment proceedings, including details of transactions and bank accounts. The court emphasized that the sufficiency of material to form a belief that income had escaped assessment was not a matter for writ jurisdiction. The petitioner's reliance on previous case law was deemed irrelevant, and the court concluded that the reassessment proceedings were justified, dismissing the petition without costs. en-us Tue, 17 Jan 2006 00:00:00 +0530 Wed, 30 Jul 2008 10:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3139 The court dismissed the writ petition, upholding the validity of the notice issued under section 148 of the Income-tax Act. It found that the Assessing Officer had sufficient material to initiate reassessment proceedings, including details of transactions and bank accounts. The court emphasized that the sufficiency of material to form a belief that income had escaped assessment was not a matter for writ jurisdiction. The petitioner's reliance on previous case law was deemed irrelevant, and the court concluded that the reassessment proceedings were justified, dismissing the petition without costs. Case-Laws Income Tax Tue, 17 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3139