https://www.taxtmi.com/caselaws?id=351985 The court upheld the validity of reassessment proceedings for Assessment Year 2010-11 initiated under Section 148 of the Income Tax Act. It determined that the Assessing Officer had sufficient specific information, including denials of investment, to form a belief in income escapement, distinguishing the case from others lacking a proper basis for reassessment. The court emphasized that the jurisdictional issue was resolved in favor of the revenue, allowing the reassessment process to proceed for further examination of income addition, dismissing the writ petition for lacking merit. en-us Mon, 27 Nov 2017 00:00:00 +0530 Tue, 05 Dec 2017 07:57:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351985 The court upheld the validity of reassessment proceedings for Assessment Year 2010-11 initiated under Section 148 of the Income Tax Act. It determined that the Assessing Officer had sufficient specific information, including denials of investment, to form a belief in income escapement, distinguishing the case from others lacking a proper basis for reassessment. The court emphasized that the jurisdictional issue was resolved in favor of the revenue, allowing the reassessment process to proceed for further examination of income addition, dismissing the writ petition for lacking merit. Case-Laws Income Tax Mon, 27 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351985