https://www.taxtmi.com/caselaws?id=64154 The Tribunal dismissed the revenue's appeal, ruling that Section 52(2) of the IT Act was inapplicable as there was no evidence of understatement by the assessee. The reopening of the assessment under Sections 147(a) and 147(b) was deemed unjustified as all material facts were disclosed initially, with no new information warranting the reopening. The Tribunal stressed avoiding futile litigation and resource wastage, citing The State of Maharashtra vs. Narayan Vyankatesh Deshpande. Consequently, the revenue's appeal was dismissed. en-us Wed, 28 Jul 1982 00:00:00 +0530 Sat, 05 Feb 2011 11:22:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64154 The Tribunal dismissed the revenue's appeal, ruling that Section 52(2) of the IT Act was inapplicable as there was no evidence of understatement by the assessee. The reopening of the assessment under Sections 147(a) and 147(b) was deemed unjustified as all material facts were disclosed initially, with no new information warranting the reopening. The Tribunal stressed avoiding futile litigation and resource wastage, citing The State of Maharashtra vs. Narayan Vyankatesh Deshpande. Consequently, the revenue's appeal was dismissed. Case-Laws Income Tax Wed, 28 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64154