https://www.taxtmi.com/caselaws?id=29565 The court dismissed the writ petition challenging a notice issued by the Income Tax Officer under sections 226 and 227 of the Constitution of India. It held that the ITO can initiate proceedings under section 147(a) of the Income Tax Act, 1961, even if the assessee disclosed correct facts earlier. The court found sufficient material for the ITO to believe income had escaped assessment, based on specific averments in the return and a creditor's admission of engaging in hawala business. The petitioner's arguments were deemed meritless, and the court directed the ITO to proceed with reassessment as per the law, denying the petitioner's request for a Supreme Court appeal certificate. en-us Tue, 20 Nov 1979 00:00:00 +0530 Sat, 13 Mar 2010 17:24:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29565 The court dismissed the writ petition challenging a notice issued by the Income Tax Officer under sections 226 and 227 of the Constitution of India. It held that the ITO can initiate proceedings under section 147(a) of the Income Tax Act, 1961, even if the assessee disclosed correct facts earlier. The court found sufficient material for the ITO to believe income had escaped assessment, based on specific averments in the return and a creditor's admission of engaging in hawala business. The petitioner's arguments were deemed meritless, and the court directed the ITO to proceed with reassessment as per the law, denying the petitioner's request for a Supreme Court appeal certificate. Case-Laws Income Tax Tue, 20 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29565