https://www.taxtmi.com/caselaws?id=373597 The appeals challenging the validity of reassessment under Section 148 for the assessment years 2003-04 and 2004-05 were dismissed. The Tribunal upheld the reopening of assessment based on statements recorded during a survey, deeming it necessary action rather than a change of opinion. The reassessment was considered valid despite no failure to disclose all material facts, as the income in question was not disclosed in returns but acknowledged to have been earned. The issue of charging interest under Section 234B up to the date of reassessment was also addressed, with the appeals being dismissed against the assessee. en-us Thu, 06 Dec 2018 00:00:00 +0530 Wed, 16 Jan 2019 09:58:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373597 The appeals challenging the validity of reassessment under Section 148 for the assessment years 2003-04 and 2004-05 were dismissed. The Tribunal upheld the reopening of assessment based on statements recorded during a survey, deeming it necessary action rather than a change of opinion. The reassessment was considered valid despite no failure to disclose all material facts, as the income in question was not disclosed in returns but acknowledged to have been earned. The issue of charging interest under Section 234B up to the date of reassessment was also addressed, with the appeals being dismissed against the assessee. Case-Laws Income Tax Thu, 06 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373597