https://www.taxtmi.com/caselaws?id=19936 The High Court of Bombay upheld the reopening of income-tax assessments for the years 1964-65, 1965-66, and 1966-67 under section 147(a) of the Income-tax Act, 1961. Despite the purchases being initially disclosed, subsequent revelations of fraudulent transactions justified the reassessments. The Court emphasized the importance of reliable information for reassessment, supporting the jurisdiction of the Income-tax Officer in reopening the assessments. The decision favored the Revenue, confirming the fulfillment of the condition precedent for exercising jurisdiction under section 147(a). en-us Tue, 15 Mar 1994 00:00:00 +0530 Tue, 10 Nov 2009 16:56:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19936 The High Court of Bombay upheld the reopening of income-tax assessments for the years 1964-65, 1965-66, and 1966-67 under section 147(a) of the Income-tax Act, 1961. Despite the purchases being initially disclosed, subsequent revelations of fraudulent transactions justified the reassessments. The Court emphasized the importance of reliable information for reassessment, supporting the jurisdiction of the Income-tax Officer in reopening the assessments. The decision favored the Revenue, confirming the fulfillment of the condition precedent for exercising jurisdiction under section 147(a). Case-Laws Income Tax Tue, 15 Mar 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19936