https://www.taxtmi.com/caselaws?id=14077 The High Court quashed the notice issued under s. 148 of the IT Act, 1961 for the assessment year 1986-87 and subsequent reassessment proceedings initiated by the ITO. The court held that the reassessment proceedings were invalid as they were beyond the statutory time limit for initiating reassessment under s. 147 and were not based on any failure by the assessee to disclose material facts. The petition was allowed with no order as to costs. en-us Wed, 21 Mar 2001 00:00:00 +0530 Mon, 13 Jul 2009 13:43:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14077 The High Court quashed the notice issued under s. 148 of the IT Act, 1961 for the assessment year 1986-87 and subsequent reassessment proceedings initiated by the ITO. The court held that the reassessment proceedings were invalid as they were beyond the statutory time limit for initiating reassessment under s. 147 and were not based on any failure by the assessee to disclose material facts. The petition was allowed with no order as to costs. Case-Laws Income Tax Wed, 21 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14077