https://www.taxtmi.com/caselaws?id=25654 The High Court ruled in favor of the assessee in a case involving the reopening of assessment for the assessment year 1952-53. The Court held that the assessee had disclosed all material facts necessary for assessment and that the reassessment and notice under section 148 were invalid. The ownership of gold in question belonged to the individual karta and not the assessee, leading to the conclusion that there was no failure to disclose relevant primary facts. Consequently, the Court decided in favor of the assessee on issues 1 and 4, rendering the reassessment and notice invalid. en-us Thu, 29 Jan 1987 00:00:00 +0530 Sat, 30 Jan 2010 10:33:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25654 The High Court ruled in favor of the assessee in a case involving the reopening of assessment for the assessment year 1952-53. The Court held that the assessee had disclosed all material facts necessary for assessment and that the reassessment and notice under section 148 were invalid. The ownership of gold in question belonged to the individual karta and not the assessee, leading to the conclusion that there was no failure to disclose relevant primary facts. Consequently, the Court decided in favor of the assessee on issues 1 and 4, rendering the reassessment and notice invalid. Case-Laws Income Tax Thu, 29 Jan 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25654