https://www.taxtmi.com/caselaws?id=395484 The court declined to quash the notice for re-opening the assessment under Section 148 of the Income Tax Act, 1961 for Assessment Year 2003-04. The petitioner's objections regarding reliance on internal audit party's views and lack of fresh material were overruled. The court emphasized procedural requirements, directing the petitioner to participate in the proceedings and the respondent to make decisions within a specified timeframe. The judgment highlights the importance of full disclosure and adherence to the law in re-assessment proceedings, ensuring a fair process for both parties. en-us Tue, 19 May 2020 00:00:00 +0530 Fri, 13 Aug 2021 13:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395484 The court declined to quash the notice for re-opening the assessment under Section 148 of the Income Tax Act, 1961 for Assessment Year 2003-04. The petitioner's objections regarding reliance on internal audit party's views and lack of fresh material were overruled. The court emphasized procedural requirements, directing the petitioner to participate in the proceedings and the respondent to make decisions within a specified timeframe. The judgment highlights the importance of full disclosure and adherence to the law in re-assessment proceedings, ensuring a fair process for both parties. Case-Laws Income Tax Tue, 19 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395484