https://www.taxtmi.com/caselaws?id=423127 The court upheld the validity of the notice issued under Section 148 of the Income Tax Act, finding prima facie material supporting the belief that income had escaped assessment. It determined that the reassessment was not a mere change of opinion but was justified by fresh tangible material that was not discoverable during the original assessment. The court also clarified the role of audit objections and confirmed compliance with procedural requirements under Section 151. As a result, the writ petition was dismissed. en-us Mon, 18 Apr 2022 00:00:00 +0530 Mon, 22 Aug 2022 16:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423127 The court upheld the validity of the notice issued under Section 148 of the Income Tax Act, finding prima facie material supporting the belief that income had escaped assessment. It determined that the reassessment was not a mere change of opinion but was justified by fresh tangible material that was not discoverable during the original assessment. The court also clarified the role of audit objections and confirmed compliance with procedural requirements under Section 151. As a result, the writ petition was dismissed. Case-Laws Income Tax Mon, 18 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423127