1988 (10) TMI 16 - HC - Income Tax

Summary

The High Court of Punjab and Haryana upheld the reassessment proceedings under section 147(a) of the Income-tax Act, 1961. The court found that the assessee did not fully disclose all material facts, leading to the initiation of valid proceedings. The court ruled in favor of the Revenue, holding the assessee liable to pay the costs of the proceedings.