https://www.taxtmi.com/caselaws?id=16976 The High Court upheld the initiation of proceedings under section 148 of the Income-tax Act, ruling in favor of the Revenue and affirming the Tribunal's decision for the relevant assessment years. The case involved discrepancies in the association of rice millers' income, leading to the reopening of assessments where gross receipts exceeded the taxable limit. The court emphasized the significance of factual assessments in determining the validity of income tax proceedings and ensuring tax compliance and accountability. en-us Wed, 08 May 1996 00:00:00 +0530 Mon, 14 Sep 2009 13:25:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16976 The High Court upheld the initiation of proceedings under section 148 of the Income-tax Act, ruling in favor of the Revenue and affirming the Tribunal's decision for the relevant assessment years. The case involved discrepancies in the association of rice millers' income, leading to the reopening of assessments where gross receipts exceeded the taxable limit. The court emphasized the significance of factual assessments in determining the validity of income tax proceedings and ensuring tax compliance and accountability. Case-Laws Income Tax Wed, 08 May 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16976