https://www.taxtmi.com/caselaws?id=385430 The court upheld the notice issued under section 148 of the Income Tax Act, 1961 to reopen the assessment for the assessment year 2017-18, based on discrepancies in the declared land cost by the assessee in previous years. The court found that the information obtained during the assessment of the earlier year supported the reopening notice, indicating a prima facie case of escaped income assessment. The petition challenging the notice was dismissed as the court deemed the reasons provided by the Assessing Officer as valid for issuing the notice. en-us Fri, 23 Aug 2019 00:00:00 +0530 Thu, 05 Sep 2019 07:32:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385430 The court upheld the notice issued under section 148 of the Income Tax Act, 1961 to reopen the assessment for the assessment year 2017-18, based on discrepancies in the declared land cost by the assessee in previous years. The court found that the information obtained during the assessment of the earlier year supported the reopening notice, indicating a prima facie case of escaped income assessment. The petition challenging the notice was dismissed as the court deemed the reasons provided by the Assessing Officer as valid for issuing the notice. Case-Laws Income Tax Fri, 23 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385430