https://www.taxtmi.com/caselaws?id=13809 The court dismissed the original petition challenging notices issued under section 148 of the Income-tax Act for various assessment years, citing the Assessing Officer's power to reassess income that escaped assessment. Emphasizing the wide scope of reassessment and the discretion of the Assessing Officer, the court highlighted the importance of accurate income declarations and the consequences of false statements during assessment. The court concluded that reliable evidence supported reassessment, providing the petitioner with the opportunity to address any discrepancies. The Revenue assured not to take coercive steps immediately upon reassessment and fresh orders. en-us Thu, 22 Feb 2001 00:00:00 +0530 Fri, 03 Jul 2009 10:27:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13809 The court dismissed the original petition challenging notices issued under section 148 of the Income-tax Act for various assessment years, citing the Assessing Officer's power to reassess income that escaped assessment. Emphasizing the wide scope of reassessment and the discretion of the Assessing Officer, the court highlighted the importance of accurate income declarations and the consequences of false statements during assessment. The court concluded that reliable evidence supported reassessment, providing the petitioner with the opportunity to address any discrepancies. The Revenue assured not to take coercive steps immediately upon reassessment and fresh orders. Case-Laws Income Tax Thu, 22 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13809