https://www.taxtmi.com/caselaws?id=5851 SC allowed the appeal and held the reassessment notice under s.148 invalid for want of jurisdiction. The Court found there was no adequate reason to believe the assessee had omitted material facts or that income had escaped assessment; alleged transactions (loans, gifts, remuneration) did not reasonably show the remuneration was sham or that deduction was wrongly allowed. Questions of non-disclosure or escapement of income were for assessment proceedings, not for determination in the present writ. en-us Thu, 23 Apr 1981 00:00:00 +0530 Fri, 31 Oct 2025 16:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5851 SC allowed the appeal and held the reassessment notice under s.148 invalid for want of jurisdiction. The Court found there was no adequate reason to believe the assessee had omitted material facts or that income had escaped assessment; alleged transactions (loans, gifts, remuneration) did not reasonably show the remuneration was sham or that deduction was wrongly allowed. Questions of non-disclosure or escapement of income were for assessment proceedings, not for determination in the present writ. Case-Laws Income Tax Thu, 23 Apr 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5851