https://www.taxtmi.com/caselaws?id=433696 The court dismissed the petition challenging the validity of notices issued under Sections 148A(b) and 148 of the Income Tax Act. It held that the notices were valid and based on sufficient information from audit objections, allowing for the initiation of re-assessment proceedings. The court emphasized that the amendments to the Act permitted the consideration of audit objections as valid information for escaped assessment, rejecting the argument that it amounted to a mere change of opinion. The petitioner's contentions were not upheld, and the court affirmed the legality of the re-assessment proceedings. en-us Wed, 25 Jan 2023 00:00:00 +0530 Mon, 06 Feb 2023 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433696 The court dismissed the petition challenging the validity of notices issued under Sections 148A(b) and 148 of the Income Tax Act. It held that the notices were valid and based on sufficient information from audit objections, allowing for the initiation of re-assessment proceedings. The court emphasized that the amendments to the Act permitted the consideration of audit objections as valid information for escaped assessment, rejecting the argument that it amounted to a mere change of opinion. The petitioner's contentions were not upheld, and the court affirmed the legality of the re-assessment proceedings. Case-Laws Income Tax Wed, 25 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433696