https://www.taxtmi.com/caselaws?id=33649 The court upheld the validity of the assumption of jurisdiction under section 147 of the Income-tax Act, finding that the reassessment was based on substantial new information, not a mere change of opinion. The notice issued under section 148 for reopening assessment was deemed legal as it was supported by new evidence discovered during the assessment for the subsequent year. The disallowance of deduction under section 80-I was upheld, with the reassessment deemed valid based on concrete evidence of income escaping assessment. The court found the orders dated December 12, 2005, and November 3, 2000, legally sustainable, dismissing the appellant's appeal. en-us Tue, 07 Aug 2007 00:00:00 +0530 Mon, 01 Jun 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33649 The court upheld the validity of the assumption of jurisdiction under section 147 of the Income-tax Act, finding that the reassessment was based on substantial new information, not a mere change of opinion. The notice issued under section 148 for reopening assessment was deemed legal as it was supported by new evidence discovered during the assessment for the subsequent year. The disallowance of deduction under section 80-I was upheld, with the reassessment deemed valid based on concrete evidence of income escaping assessment. The court found the orders dated December 12, 2005, and November 3, 2000, legally sustainable, dismissing the appellant's appeal. Case-Laws Income Tax Tue, 07 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33649