https://www.taxtmi.com/caselaws?id=17374 The court upheld the jurisdiction of the Inspecting Assistant Commissioner to issue the notice under section 148 of the Income-tax Act, ruling that the authority had proper jurisdiction. It found the reopening of the assessment justified based on undervaluation of closing stock and misstatement of development rebate. The court dismissed the petition, affirming the legality and propriety of the notice and stating that the limitation issue could be addressed by the assessing authority. en-us Thu, 29 May 1997 00:00:00 +0530 Mon, 21 Sep 2009 18:20:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17374 The court upheld the jurisdiction of the Inspecting Assistant Commissioner to issue the notice under section 148 of the Income-tax Act, ruling that the authority had proper jurisdiction. It found the reopening of the assessment justified based on undervaluation of closing stock and misstatement of development rebate. The court dismissed the petition, affirming the legality and propriety of the notice and stating that the limitation issue could be addressed by the assessing authority. Case-Laws Income Tax Thu, 29 May 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17374