https://www.taxtmi.com/caselaws?id=404669 The court upheld the validity of the reopening of assessments under Section 148 of the Income Tax Act, 1961 for the petitioner for the Assessment Years 2011-12 and 2013-14. The court emphasized the necessity of full and true disclosure of material facts and justification for reassessment based on the method of accounting. The petitioner was directed to provide documentation supporting the percentage of work completed, with reassessment to be completed accordingly. The court did not intervene in the reassessment proceedings, allowing the process to continue based on the provided documentation. en-us Wed, 24 Feb 2021 00:00:00 +0530 Sat, 27 Feb 2021 11:27:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404669 The court upheld the validity of the reopening of assessments under Section 148 of the Income Tax Act, 1961 for the petitioner for the Assessment Years 2011-12 and 2013-14. The court emphasized the necessity of full and true disclosure of material facts and justification for reassessment based on the method of accounting. The petitioner was directed to provide documentation supporting the percentage of work completed, with reassessment to be completed accordingly. The court did not intervene in the reassessment proceedings, allowing the process to continue based on the provided documentation. Case-Laws Income Tax Wed, 24 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404669