https://www.taxtmi.com/caselaws?id=404074 The court upheld the validity of the notice issued under section 148 of the Income Tax Act, 1961, finding that the Assessing Officer had valid reasons to believe income had escaped assessment due to undisclosed land purchases. The reassessment proceedings were deemed not barred by limitation as the undisclosed income exceeded the threshold for an extended limitation period. The petitioner's failure to fully disclose material facts justified the reassessment, leading to the dismissal of the writ petition. en-us Mon, 18 Jan 2021 00:00:00 +0530 Wed, 15 Sep 2021 17:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404074 The court upheld the validity of the notice issued under section 148 of the Income Tax Act, 1961, finding that the Assessing Officer had valid reasons to believe income had escaped assessment due to undisclosed land purchases. The reassessment proceedings were deemed not barred by limitation as the undisclosed income exceeded the threshold for an extended limitation period. The petitioner's failure to fully disclose material facts justified the reassessment, leading to the dismissal of the writ petition. Case-Laws Income Tax Mon, 18 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404074