2008 (11) TMI 2 - HC - Income Tax

Re-opening of assessment - AO had examined and verified the information before finalizing the assessment u/s 143(3) - petitioner submitted various details including bank statements, particulars of cheques received towards share application money and confirmation relating to the share application money received during the year - petitioner had not failed to disclose fully and truly all material facts necessary - Impugned notice issued u/s 148 & proceedings pursuant to this are set aside