Dismissing the petition the Court held that the Assessing Officer had recorded a finding that the submission of the assessee-company was incorrect and misleading. The notice of reassessment was valid. (AY. 2005-06)
Cairn India Ltd. v. Dy. DIT(IT) (NO. 2) (2021) 439 ITR 245 / 283 Taxman 529 (Mad.)(HC)
S. 147 : Reassessment-After the expiry of four years-Facts disclosed were incorrect-Reassessment notice was held to be valid. [S. 148, Art. 226]