https://www.taxtmi.com/caselaws?id=279388 The Court ruled in favor of the petitioner, quashing the reassessment notice for AY 2010-11 under Sections 147/148. The Court emphasized the necessity of tangible fresh material outside the record for reassessment and concluded that the Revenue's failure to tax disclosed amounts earlier did not justify the reassessment. As a result, the writ petition challenging the reassessment notice was allowed, and all related proceedings were annulled. en-us Fri, 17 Aug 2018 00:00:00 +0530 Fri, 15 Mar 2019 07:31:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279388 The Court ruled in favor of the petitioner, quashing the reassessment notice for AY 2010-11 under Sections 147/148. The Court emphasized the necessity of tangible fresh material outside the record for reassessment and concluded that the Revenue's failure to tax disclosed amounts earlier did not justify the reassessment. As a result, the writ petition challenging the reassessment notice was allowed, and all related proceedings were annulled. Case-Laws Income Tax Fri, 17 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279388