https://www.taxtmi.com/caselaws?id=25618 The court upheld the validity of the notices issued under section 148 of the Income-tax Act, 1961 for the assessment year 1971-72. It determined that the Income-tax Officer had jurisdiction to reopen the assessment based on grounds related to incorrect deductions under sections 80K, 80L, and 80M, unabsorbed deficiency under section 80J, and other undisclosed expenses. The court emphasized that if one valid ground existed for issuing the notice, the entire assessment would be upheld, leading to the dismissal of the petitioner's application and refusal of the prayer for stay of operation of the order. en-us Mon, 18 Aug 1986 00:00:00 +0530 Fri, 29 Jan 2010 17:21:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25618 The court upheld the validity of the notices issued under section 148 of the Income-tax Act, 1961 for the assessment year 1971-72. It determined that the Income-tax Officer had jurisdiction to reopen the assessment based on grounds related to incorrect deductions under sections 80K, 80L, and 80M, unabsorbed deficiency under section 80J, and other undisclosed expenses. The court emphasized that if one valid ground existed for issuing the notice, the entire assessment would be upheld, leading to the dismissal of the petitioner's application and refusal of the prayer for stay of operation of the order. Case-Laws Income Tax Mon, 18 Aug 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25618