https://www.taxtmi.com/caselaws?id=305523 The court quashed the notice issued under Section 148 of the Income Tax Act, 1961 for reopening an assessment for the year 1999-2000. The court found that the petitioner had fully disclosed all material facts necessary for assessment during the regular assessment proceedings, as evidenced by the Balance-sheet filed with the return of income. The court held that the reasons for reopening relied on the information disclosed by the petitioner and that there was no failure to disclose fully and truly all material facts. The court allowed the petition, emphasizing that the petitioner had complied with the legal requirements for disclosure. en-us Tue, 28 Oct 2014 00:00:00 +0530 Fri, 09 Dec 2022 10:02:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305523 The court quashed the notice issued under Section 148 of the Income Tax Act, 1961 for reopening an assessment for the year 1999-2000. The court found that the petitioner had fully disclosed all material facts necessary for assessment during the regular assessment proceedings, as evidenced by the Balance-sheet filed with the return of income. The court held that the reasons for reopening relied on the information disclosed by the petitioner and that there was no failure to disclose fully and truly all material facts. The court allowed the petition, emphasizing that the petitioner had complied with the legal requirements for disclosure. Case-Laws Income Tax Tue, 28 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305523