https://www.taxtmi.com/caselaws?id=360986 Reassessment under the Income-tax Act was upheld where the assessee's own records showed purchase of property in his name and the Assessing Officer recorded reasons indicating escapement of income. The court held that rival claims about whether the property was really held for a society, and whether income should ultimately be assessed in the assessee's hands or another entity's hands, could not be resolved in writ proceedings at the threshold. Sanction for issuance of notice was also found valid because it was granted by the competent authority and was not shown to be mechanical. The writ challenge to the reassessment proceedings therefore failed, leaving the assessee to pursue his defence before the assessing authority. en-us Wed, 02 May 2018 00:00:00 +0530 Sat, 26 May 2018 09:31:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360986 Reassessment under the Income-tax Act was upheld where the assessee's own records showed purchase of property in his name and the Assessing Officer recorded reasons indicating escapement of income. The court held that rival claims about whether the property was really held for a society, and whether income should ultimately be assessed in the assessee's hands or another entity's hands, could not be resolved in writ proceedings at the threshold. Sanction for issuance of notice was also found valid because it was granted by the competent authority and was not shown to be mechanical. The writ challenge to the reassessment proceedings therefore failed, leaving the assessee to pursue his defence before the assessing authority. Case-Laws Income Tax Wed, 02 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360986