https://www.taxtmi.com/caselaws?id=11374 The court upheld the Assessing Officer's decision to reopen the assessment for the relevant year due to depreciation claimed on alleged leased vehicles, determining the lease arrangement as financing, not leasing. Despite objections, the court found sufficient reason to believe income had escaped assessment, affirming the validity of the notice under section 148 of the Income-tax Act, 1961. The court emphasized the petitioner's right to raise all pleas before the assessing authority and appeal if necessary, ultimately dismissing the writ petitions and affirming the Assessing Officer's actions. en-us Thu, 18 Sep 2003 00:00:00 +0530 Fri, 07 Aug 2009 13:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11374 The court upheld the Assessing Officer's decision to reopen the assessment for the relevant year due to depreciation claimed on alleged leased vehicles, determining the lease arrangement as financing, not leasing. Despite objections, the court found sufficient reason to believe income had escaped assessment, affirming the validity of the notice under section 148 of the Income-tax Act, 1961. The court emphasized the petitioner's right to raise all pleas before the assessing authority and appeal if necessary, ultimately dismissing the writ petitions and affirming the Assessing Officer's actions. Case-Laws Income Tax Thu, 18 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11374