https://www.taxtmi.com/caselaws?id=8962 The court upheld the validity of the notice issued under Section 148 of the Income-tax Act, 1961, finding it within the Income-tax Officer's jurisdiction. The petitioner-firm's failure to fully disclose material facts, specifically regarding market rates and reasons for lower sales, justified the reassessment proceedings. The court dismissed the petition, allowing the reassessment to proceed. en-us Wed, 10 May 1972 00:00:00 +0530 Wed, 17 Jun 2009 17:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8962 The court upheld the validity of the notice issued under Section 148 of the Income-tax Act, 1961, finding it within the Income-tax Officer's jurisdiction. The petitioner-firm's failure to fully disclose material facts, specifically regarding market rates and reasons for lower sales, justified the reassessment proceedings. The court dismissed the petition, allowing the reassessment to proceed. Case-Laws Income Tax Wed, 10 May 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8962