https://www.taxtmi.com/caselaws?id=27352 The Appellate Tribunal upheld the Income Tax Officer's decision to reopen the assessment under Section 147(a) of the Income Tax Act, 1961, due to the assessee's non-disclosure of material facts regarding the true cost of construction of properties. The Tribunal found that the reassessment order was justified, rejecting the assessee's argument that there was no overt act of concealment. The court held that the Income Tax Officer had sufficient reason to believe that income had escaped assessment, affirming the validity of the reassessment under Section 147(a). The assessee was directed to pay the costs of the Revenue. en-us Wed, 14 Dec 1983 00:00:00 +0530 Fri, 12 Feb 2010 12:36:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27352 The Appellate Tribunal upheld the Income Tax Officer's decision to reopen the assessment under Section 147(a) of the Income Tax Act, 1961, due to the assessee's non-disclosure of material facts regarding the true cost of construction of properties. The Tribunal found that the reassessment order was justified, rejecting the assessee's argument that there was no overt act of concealment. The court held that the Income Tax Officer had sufficient reason to believe that income had escaped assessment, affirming the validity of the reassessment under Section 147(a). The assessee was directed to pay the costs of the Revenue. Case-Laws Income Tax Wed, 14 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27352