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| The Tax Publishers2019 TaxPub(DT) 6913 (SC) INCOME TAX ACT, 1961
Section 261 Section 147
Where the department preferred SLP to appeal against the judgment of Bombay High Court in Precilion Holdings Ltd. v. Dy. CIT & Ors. [Writ Petition No. 3342 of 2018, dt. 25-2-2019] : (2019) 412 ITR 43 (Bom-HC) : 2019 TaxPub(DT) 1924 (Bom-HC), whereby the High Court held that nowhere in the reasons recorded, had AO stated that in the process of scrutiny there was any failure on the part of assessee to fully and truly disclose all material facts, thus, notice issued under section 148 for reopening of the assessment was unsustainable, the Supreme Court dismissed the SLP.
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Appeal (Supreme Court) - Special leave petition - Reassessment - Reason to believe--Failure to disclose fully and truly material facts
Department preferred SLP to appeal against the judgment of Bombay High Court in Precilion Holdings Ltd. v. Dy. CIT & Ors. [Writ Petition No. 3342 of 2018, dt. 25-2-2019] : (2019) 412 ITR 43 (Bom-HC) : 2019 TaxPub(DT) 1924 (Bom-HC), whereby the High Court held that nowhere in the reasons recorded, had AO stated that in the process of scrutiny there was any failure on the part of assessee to fully and truly disclose all material facts, thus, notice issued under section 148 for reopening of the assessment was unsustainable.Held: The Supreme Court dismissed the SLP.
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