M/S SESHASAYEE STEELS P.LTD.TR.M.D. vs ASSTT.COMMR.OF I.T, CO. CIR-VI(2)CHENNAI

The Supreme Court addressed the issue of non-filing of income tax returns by the appellant under the Income Tax Act, 1961, specifically referencing Section 148 for reopening assessments. The Court held that the Assessing Officer acted within his jurisdiction to issue notices for assessment based on the discovery of an agreement to sell property, and the appellant's failure to respond warranted the proceedings. The Court affirmed the validity of the notices issued under Sections 148 and 142(1), leading to the dismissal of the appeal.