https://www.taxtmi.com/caselaws?id=372825 The High Court of Madras upheld the Tribunal's decision regarding the reassessment for the assessment year 2001-02 under Section 148 of the Income-tax Act, 1961. The Court found that the assessee had made a full and true disclosure during the original assessment, rendering the reopening of assessment invalid. The Court emphasized the importance of transparency and completeness in tax assessments and highlighted the significance of considering the validity of reopening proceedings. The decision was in favor of the assessee, and no costs were awarded to the Revenue. en-us Tue, 04 Dec 2018 00:00:00 +0530 Sun, 30 Dec 2018 19:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372825 The High Court of Madras upheld the Tribunal's decision regarding the reassessment for the assessment year 2001-02 under Section 148 of the Income-tax Act, 1961. The Court found that the assessee had made a full and true disclosure during the original assessment, rendering the reopening of assessment invalid. The Court emphasized the importance of transparency and completeness in tax assessments and highlighted the significance of considering the validity of reopening proceedings. The decision was in favor of the assessee, and no costs were awarded to the Revenue. Case-Laws Income Tax Tue, 04 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372825