https://www.taxtmi.com/caselaws?id=18231 The court upheld the validity of the notice issued by the Income-tax Officer under section 147(a) of the Income-tax Act, 1961 for reassessment of the assessment year 1972-73. The court found that the reasons recorded supported the belief that income had escaped assessment due to non-disclosure of material facts by the assessee. The petitioner's challenge to the notice was dismissed, emphasizing the duty of the assessee to fully disclose all material facts necessary for assessment. The court highlighted the importance of detailed examination during reassessment proceedings and affirmed the authority of the Income-tax Officer to reassess based on valid reasons. en-us Mon, 12 Aug 1996 00:00:00 +0530 Tue, 29 Sep 2009 16:02:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18231 The court upheld the validity of the notice issued by the Income-tax Officer under section 147(a) of the Income-tax Act, 1961 for reassessment of the assessment year 1972-73. The court found that the reasons recorded supported the belief that income had escaped assessment due to non-disclosure of material facts by the assessee. The petitioner's challenge to the notice was dismissed, emphasizing the duty of the assessee to fully disclose all material facts necessary for assessment. The court highlighted the importance of detailed examination during reassessment proceedings and affirmed the authority of the Income-tax Officer to reassess based on valid reasons. Case-Laws Income Tax Mon, 12 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18231