https://www.taxtmi.com/caselaws?id=423453 The court upheld the validity of the notice issued under Section 148 of the Income Tax Act for reassessment of income. It found discrepancies in income receipts and TDS claims, supporting the "reason to believe" criterion for reassessment. The reassessment was not solely based on a change of opinion but on new information regarding undisclosed income and expenses. The court determined that the reassessment process complied with CBDT instructions, adequate reasons were recorded, and the approving authority applied their mind properly. Consequently, the court dismissed the petition, affirming the validity of the reassessment proceedings. en-us Wed, 20 Apr 2022 00:00:00 +0530 Mon, 10 Oct 2022 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423453 The court upheld the validity of the notice issued under Section 148 of the Income Tax Act for reassessment of income. It found discrepancies in income receipts and TDS claims, supporting the "reason to believe" criterion for reassessment. The reassessment was not solely based on a change of opinion but on new information regarding undisclosed income and expenses. The court determined that the reassessment process complied with CBDT instructions, adequate reasons were recorded, and the approving authority applied their mind properly. Consequently, the court dismissed the petition, affirming the validity of the reassessment proceedings. Case-Laws Income Tax Wed, 20 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423453