https://www.taxtmi.com/caselaws?id=29417 The High Court of Gujarat ruled in favor of the petitioner, holding that the Income Tax Officer lacked jurisdiction to reopen the income tax assessment for the assessment year 1972-73. The court found that the conditions precedent under sections 148 and 147(a) of the Income Tax Act were not satisfied, as the petitioner had disclosed all material facts necessary for assessment and the valuation method used was appropriate. Consequently, the court quashed the notice issued by the ITO, setting aside the decision to reopen the assessment. en-us Thu, 20 Aug 1981 00:00:00 +0530 Fri, 12 Mar 2010 16:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29417 The High Court of Gujarat ruled in favor of the petitioner, holding that the Income Tax Officer lacked jurisdiction to reopen the income tax assessment for the assessment year 1972-73. The court found that the conditions precedent under sections 148 and 147(a) of the Income Tax Act were not satisfied, as the petitioner had disclosed all material facts necessary for assessment and the valuation method used was appropriate. Consequently, the court quashed the notice issued by the ITO, setting aside the decision to reopen the assessment. Case-Laws Income Tax Thu, 20 Aug 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29417