https://www.taxtmi.com/caselaws?id=62010 The Appellate Tribunal ruled in favor of the assessee, holding that the reassessment was not valid under either section 147(a) or section 147(b) of the Income-tax Act, 1961. The Tribunal emphasized the importance of full and truthful disclosure of material facts by the assessee and established that an audit report's opinion alone does not constitute valid grounds for reopening assessments. en-us Wed, 07 Aug 1985 00:00:00 +0530 Mon, 17 Jan 2011 16:34:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62010 The Appellate Tribunal ruled in favor of the assessee, holding that the reassessment was not valid under either section 147(a) or section 147(b) of the Income-tax Act, 1961. The Tribunal emphasized the importance of full and truthful disclosure of material facts by the assessee and established that an audit report's opinion alone does not constitute valid grounds for reopening assessments. Case-Laws Income Tax Wed, 07 Aug 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62010