https://www.taxtmi.com/caselaws?id=404260 The court upheld the validity of the notice issued under Section 148 of the Income Tax Act, 1961, for reopening the assessment year 2014-15. It found that the Assessing Officer had sufficient grounds to believe income had escaped assessment due to undisclosed bank account entries. The court ruled that the Assessing Officer conducted an independent inquiry and the writ applicant failed to disclose all material facts required for assessment. Consequently, the court dismissed the writ application, confirming the legality of the notice and the justification for reassessment. en-us Thu, 04 Feb 2021 00:00:00 +0530 Wed, 07 Apr 2021 14:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404260 The court upheld the validity of the notice issued under Section 148 of the Income Tax Act, 1961, for reopening the assessment year 2014-15. It found that the Assessing Officer had sufficient grounds to believe income had escaped assessment due to undisclosed bank account entries. The court ruled that the Assessing Officer conducted an independent inquiry and the writ applicant failed to disclose all material facts required for assessment. Consequently, the court dismissed the writ application, confirming the legality of the notice and the justification for reassessment. Case-Laws Income Tax Thu, 04 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404260