https://www.taxtmi.com/caselaws?id=450323 Madras HC dismissed the writ petition challenging reopening of assessment u/s 147. The petitioner filed returns admitting income of Rs. 153,79,75,580/- but subsequently filed revised returns contrary to undertakings given during search u/s 132 conducted on 20.11.2014. Senior Executive's admission of additional income during search varied from returns filed. Court held that income escaped assessment as revised returns filed on 05.03.2016 and 30.09.2015 contradicted earlier undertakings given post-search, justifying reopening proceedings. en-us Mon, 05 Feb 2024 00:00:00 +0530 Sat, 02 Mar 2024 07:24:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450323 Madras HC dismissed the writ petition challenging reopening of assessment u/s 147. The petitioner filed returns admitting income of Rs. 153,79,75,580/- but subsequently filed revised returns contrary to undertakings given during search u/s 132 conducted on 20.11.2014. Senior Executive's admission of additional income during search varied from returns filed. Court held that income escaped assessment as revised returns filed on 05.03.2016 and 30.09.2015 contradicted earlier undertakings given post-search, justifying reopening proceedings. Case-Laws Income Tax Mon, 05 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450323