Reassessment not justified if no failure by petitioner to disclose truly & fully all material facts

HIGH COURT OF GUJARAT Surat District Co-op Milk Producers Union Ltd. Versus Income-tax Officer Special Civil Application No. 18592 of 2011 September 27, 2012 ORDER 1. Rule. Learned counsel Mr Sudhir Mehta waives service of Rule. Petition is taken up for hearing forthwith. 2. The petitioner, a Cooperative Milk Producers’ Union, has challenged notice dated 30th March 2011 issued by the respondent, Income Tax Officer under Section 148 of the Income Tax Act, 1961 (‘Act’, for short). By such notice he proposed to reopen the assessment of the petitioner for the Ass...