https://www.taxtmi.com/caselaws?id=11089 The court upheld the validity of the notice issued under Section 148 of the Income-tax Act, 1961, and the reassessment proceedings under Section 147. It found that the reasons for reopening the assessment were appropriately recorded and communicated, rejecting the argument of a mere change of opinion by the Assessing Officer. The court emphasized the Assessing Officer's justified belief that income had escaped assessment, leading to the dismissal of the petition and discharge of the notice with no costs awarded. en-us Thu, 13 Nov 2003 00:00:00 +0530 Thu, 30 Jul 2009 19:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11089 The court upheld the validity of the notice issued under Section 148 of the Income-tax Act, 1961, and the reassessment proceedings under Section 147. It found that the reasons for reopening the assessment were appropriately recorded and communicated, rejecting the argument of a mere change of opinion by the Assessing Officer. The court emphasized the Assessing Officer's justified belief that income had escaped assessment, leading to the dismissal of the petition and discharge of the notice with no costs awarded. Case-Laws Income Tax Thu, 13 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11089