https://www.taxtmi.com/caselaws?id=5423 SC held that an ITO obtains jurisdiction to reopen an assessment under s.147 read with s.148 only upon recording reasons based on specific, reliable and relevant information obtained subsequently showing omission or failure by the assessee to make true and full disclosure and that income chargeable to tax escaped assessment. The Court limited judicial review to whether material existed to form such belief. Applying these principles, reassessment was valid, the HC correctly dismissed the writ petition, and the appeal was dismissed. en-us Tue, 13 Jul 1993 00:00:00 +0530 Thu, 18 Jun 2026 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5423 SC held that an ITO obtains jurisdiction to reopen an assessment under s.147 read with s.148 only upon recording reasons based on specific, reliable and relevant information obtained subsequently showing omission or failure by the assessee to make true and full disclosure and that income chargeable to tax escaped assessment. The Court limited judicial review to whether material existed to form such belief. Applying these principles, reassessment was valid, the HC correctly dismissed the writ petition, and the appeal was dismissed. Case-Laws Income Tax Tue, 13 Jul 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5423