https://www.taxtmi.com/caselaws?id=428863 The court upheld the re-assessment proceedings under the Income Tax Act, 1961 for A.Y. 2011-2012, emphasizing the necessity of full and true disclosure of material facts by the assessee. The petitioner's failure to adequately disclose ICICI bank account details during the original assessment justified the initiation of re-assessment beyond the four-year limitation period. The court dismissed the writ petition, confirming the assumption of jurisdiction by the assessing authority for re-assessment and closed the connected miscellaneous petition, concluding the legal judgment on the matter. en-us Thu, 29 Sep 2022 00:00:00 +0530 Wed, 12 Oct 2022 10:02:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428863 The court upheld the re-assessment proceedings under the Income Tax Act, 1961 for A.Y. 2011-2012, emphasizing the necessity of full and true disclosure of material facts by the assessee. The petitioner's failure to adequately disclose ICICI bank account details during the original assessment justified the initiation of re-assessment beyond the four-year limitation period. The court dismissed the writ petition, confirming the assumption of jurisdiction by the assessing authority for re-assessment and closed the connected miscellaneous petition, concluding the legal judgment on the matter. Case-Laws Income Tax Thu, 29 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428863