https://www.taxtmi.com/caselaws?id=24311 The court quashed the notices issued under section 148 of the Income-tax Act, 1961, as the Income-tax Officer lacked sufficient grounds to believe that income had escaped assessment. The court found that the petitioners had fully disclosed all material facts required for assessment, and differences in valuation reports did not justify reassessment. The petitions were allowed, and each party was directed to bear their own costs. en-us Fri, 24 Feb 1989 00:00:00 +0530 Tue, 19 Jan 2010 11:37:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24311 The court quashed the notices issued under section 148 of the Income-tax Act, 1961, as the Income-tax Officer lacked sufficient grounds to believe that income had escaped assessment. The court found that the petitioners had fully disclosed all material facts required for assessment, and differences in valuation reports did not justify reassessment. The petitions were allowed, and each party was directed to bear their own costs. Case-Laws Income Tax Fri, 24 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24311