https://www.taxtmi.com/caselaws?id=12529 The court upheld the validity of the notice issued under section 148 of the Income-tax Act, 1961, finding that there was a failure to disclose fully and truly all material facts necessary for assessment by the petitioner, a bank operating in India. The court rejected the petition to quash the notice, emphasizing that the petitioner did not disclose crucial information regarding its financial dealings with a customer, leading to the assessment being reopened. The court cited relevant case law and concluded that the notice was rightfully issued, resulting in the rejection of the petition. en-us Fri, 22 Feb 2002 00:00:00 +0530 Tue, 19 May 2009 18:28:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12529 The court upheld the validity of the notice issued under section 148 of the Income-tax Act, 1961, finding that there was a failure to disclose fully and truly all material facts necessary for assessment by the petitioner, a bank operating in India. The court rejected the petition to quash the notice, emphasizing that the petitioner did not disclose crucial information regarding its financial dealings with a customer, leading to the assessment being reopened. The court cited relevant case law and concluded that the notice was rightfully issued, resulting in the rejection of the petition. Case-Laws Income Tax Fri, 22 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12529