https://www.taxtmi.com/caselaws?id=35241 The court upheld the validity of the notice issued under Section 148 of the Income Tax Act, 1961, as the Assessing Officer had prima facie reasons to believe that certain income had escaped assessment due to incorrect set-off of losses. The court found that the conditions precedent for exercising jurisdiction under Section 147 were satisfied, dismissing the writ petition and allowing reassessment proceedings to proceed. The petitioner was reminded of available statutory remedies to challenge the final assessment order. en-us Tue, 10 Nov 2009 00:00:00 +0530 Thu, 04 Jul 2013 18:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35241 The court upheld the validity of the notice issued under Section 148 of the Income Tax Act, 1961, as the Assessing Officer had prima facie reasons to believe that certain income had escaped assessment due to incorrect set-off of losses. The court found that the conditions precedent for exercising jurisdiction under Section 147 were satisfied, dismissing the writ petition and allowing reassessment proceedings to proceed. The petitioner was reminded of available statutory remedies to challenge the final assessment order. Case-Laws Income Tax Tue, 10 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35241