https://www.taxtmi.com/caselaws?id=11576 The appeal was allowed, setting aside the judgment that quashed notices issued under section 148 of the Income-tax Act, 1961. The court upheld the reopening of assessments, emphasizing the necessity of full and true disclosure of material facts by the assessee. It was held that the reassessment proceedings were validly initiated, regardless of subsequent appellate decisions favoring the assessee. The court dismissed the writ petition, highlighting the wide but conditioned powers under section 147 for reopening assessments. No costs were awarded in the matter. en-us Fri, 11 Jul 2003 00:00:00 +0530 Sat, 30 Jan 2010 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11576 The appeal was allowed, setting aside the judgment that quashed notices issued under section 148 of the Income-tax Act, 1961. The court upheld the reopening of assessments, emphasizing the necessity of full and true disclosure of material facts by the assessee. It was held that the reassessment proceedings were validly initiated, regardless of subsequent appellate decisions favoring the assessee. The court dismissed the writ petition, highlighting the wide but conditioned powers under section 147 for reopening assessments. No costs were awarded in the matter. Case-Laws Income Tax Fri, 11 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11576