https://www.taxtmi.com/caselaws?id=36585 The court upheld the jurisdiction of the Income Tax Officer (ITO) to issue notices under section 147 of the Income Tax Act for reopening assessments. The notices were based on findings from raids on brokers' premises, revealing discrepancies and potential income concealment. Despite the assessee's objections, the court found the reasons for reopening assessments valid, emphasizing the importance of the material obtained during the raids. The court dismissed the writ petitions, affirming the legality of the notices and highlighting the necessity of cooperation in such proceedings. en-us Wed, 13 Feb 1980 00:00:00 +0530 Tue, 23 Mar 2010 12:40:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36585 The court upheld the jurisdiction of the Income Tax Officer (ITO) to issue notices under section 147 of the Income Tax Act for reopening assessments. The notices were based on findings from raids on brokers' premises, revealing discrepancies and potential income concealment. Despite the assessee's objections, the court found the reasons for reopening assessments valid, emphasizing the importance of the material obtained during the raids. The court dismissed the writ petitions, affirming the legality of the notices and highlighting the necessity of cooperation in such proceedings. Case-Laws Income Tax Wed, 13 Feb 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36585