https://www.taxtmi.com/caselaws?id=28281 The court quashed the notice under Section 148 for items (1) and (3) but allowed the ITO to proceed with item (2) regarding the excessive depreciation claim. The court dismissed the writ petition in one case, allowed reassessment for items (2) and (3) in another due to the assessee's concession, and upheld the notice for item (1) for further inquiry. Additionally, the court allowed one writ petition, quashing the notice for both items related to development rebate and valuation of closing stock. The judgment stressed the importance of adequate reasons for reopening assessments and genuine satisfaction by the Commissioner, emphasizing the necessity of disclosing material facts for assessment purposes. en-us Fri, 16 Jul 1982 00:00:00 +0530 Sat, 20 Feb 2010 11:49:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28281 The court quashed the notice under Section 148 for items (1) and (3) but allowed the ITO to proceed with item (2) regarding the excessive depreciation claim. The court dismissed the writ petition in one case, allowed reassessment for items (2) and (3) in another due to the assessee's concession, and upheld the notice for item (1) for further inquiry. Additionally, the court allowed one writ petition, quashing the notice for both items related to development rebate and valuation of closing stock. The judgment stressed the importance of adequate reasons for reopening assessments and genuine satisfaction by the Commissioner, emphasizing the necessity of disclosing material facts for assessment purposes. Case-Laws Income Tax Fri, 16 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28281