https://www.taxtmi.com/caselaws?id=39193 Reassessment under section 147(a) requires the Income-tax Officer to have material giving rise to a bona fide belief that income has escaped assessment because of the assessee's failure to disclose fully and truly all material facts; mere suspicion is insufficient. On the facts, doubt about the availability of books of account did not by itself establish escapement of income, and the officer's statement that more income might have been found if the books were produced did not satisfy the statutory belief requirement. The section 148 notice was therefore invalid, and the reassessment based on it was quashed. en-us Mon, 04 Aug 1975 00:00:00 +0530 Tue, 13 Apr 2010 15:56:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39193 Reassessment under section 147(a) requires the Income-tax Officer to have material giving rise to a bona fide belief that income has escaped assessment because of the assessee's failure to disclose fully and truly all material facts; mere suspicion is insufficient. On the facts, doubt about the availability of books of account did not by itself establish escapement of income, and the officer's statement that more income might have been found if the books were produced did not satisfy the statutory belief requirement. The section 148 notice was therefore invalid, and the reassessment based on it was quashed. Case-Laws Income Tax Mon, 04 Aug 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39193