https://www.taxtmi.com/caselaws?id=366004 The court upheld the validity of the notice issued by the Assessing Officer to reopen the assessment for Assessment Year 2011-2012. The Assessing Officer had sufficient grounds to form a belief that undisclosed investments were made by the petitioners for land purchase based on information from a search operation on Venus Group entities. The court found prima facie material suggesting cash payments for land purchase by the petitioners, leading to the dismissal of the petitions and allowing the Assessing Officer to continue reassessment under similar circumstances. en-us Tue, 14 Aug 2018 00:00:00 +0530 Mon, 27 Aug 2018 19:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366004 The court upheld the validity of the notice issued by the Assessing Officer to reopen the assessment for Assessment Year 2011-2012. The Assessing Officer had sufficient grounds to form a belief that undisclosed investments were made by the petitioners for land purchase based on information from a search operation on Venus Group entities. The court found prima facie material suggesting cash payments for land purchase by the petitioners, leading to the dismissal of the petitions and allowing the Assessing Officer to continue reassessment under similar circumstances. Case-Laws Income Tax Tue, 14 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366004