Bombay High Court Dismisses Writ Petition Challenging Reopening of Assessment Under Section 148 of Income Tax Act, 1961 — Reopening Based on Tangible Material and Valid Sanction Upheld. The court held that the notice under Section 148 was validly issued as the Assessing Officer had reason to believe that income had escaped assessment due to the petitioner's failure to disclose foreign assets fully and truly....
The petitioner, Jagesh Savjani, filed a writ petition challenging the reopening of his income tax assessment for Assessment Year 2014-15 under Section 148 of the Income Tax Act, 1961. The petitioner h...
