https://www.taxtmi.com/caselaws?id=16426 The court held that the proceedings to reopen the assessment under section 148 of the Income-tax Act were time-barred and invalid due to lack of jurisdiction after the prescribed period of limitation. The court also found that the petitioner had not failed to disclose fully and truly all material facts necessary for assessment, as the incorrect claim on the rate of depreciation did not amount to a failure in disclosure. Consequently, the impugned notice was quashed, and the original petition was allowed. en-us Tue, 20 Oct 1998 00:00:00 +0530 Mon, 07 Sep 2009 16:46:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16426 The court held that the proceedings to reopen the assessment under section 148 of the Income-tax Act were time-barred and invalid due to lack of jurisdiction after the prescribed period of limitation. The court also found that the petitioner had not failed to disclose fully and truly all material facts necessary for assessment, as the incorrect claim on the rate of depreciation did not amount to a failure in disclosure. Consequently, the impugned notice was quashed, and the original petition was allowed. Case-Laws Income Tax Tue, 20 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16426