https://www.taxtmi.com/caselaws?id=338419 The court upheld the validity of the notice issued under Sections 147/148 of the Income Tax Act, ruling in favor of the Revenue against the Assessee. The court emphasized the necessity for the Assessing Officer to have substantial evidence indicating income escapement to justify issuing such a notice. In this case, the undisclosed source of money justified the reassessment proceedings, leading to the dismissal of both appeals and affirming the legality of the notice. en-us Tue, 17 Jan 2017 00:00:00 +0530 Fri, 03 Feb 2017 11:08:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338419 The court upheld the validity of the notice issued under Sections 147/148 of the Income Tax Act, ruling in favor of the Revenue against the Assessee. The court emphasized the necessity for the Assessing Officer to have substantial evidence indicating income escapement to justify issuing such a notice. In this case, the undisclosed source of money justified the reassessment proceedings, leading to the dismissal of both appeals and affirming the legality of the notice. Case-Laws Income Tax Tue, 17 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338419