https://www.taxtmi.com/caselaws?id=12718 The court dismissed the writ petition, upholding the legality and validity of the notices issued under section 10 of the Interest-tax Act. It found that the petitioner-bank's failure to disclose interest on debentures justified the reassessment proceedings initiated by the Assessing Officer. The court concluded that the Assessing Officer had jurisdiction to issue the notices, emphasizing the importance of fully and truly disclosing all material facts necessary for assessment. The court did not address the taxability of interest on debentures, leaving it to be contested before the Assessing Officer during reassessment proceedings. en-us Tue, 05 Feb 2002 00:00:00 +0530 Thu, 21 May 2009 15:28:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12718 The court dismissed the writ petition, upholding the legality and validity of the notices issued under section 10 of the Interest-tax Act. It found that the petitioner-bank's failure to disclose interest on debentures justified the reassessment proceedings initiated by the Assessing Officer. The court concluded that the Assessing Officer had jurisdiction to issue the notices, emphasizing the importance of fully and truly disclosing all material facts necessary for assessment. The court did not address the taxability of interest on debentures, leaving it to be contested before the Assessing Officer during reassessment proceedings. Case-Laws Income Tax Tue, 05 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12718