https://www.taxtmi.com/caselaws?id=66799 The Tribunal upheld the validity of the reopening of assessment under s. 147(b) for the quantum appeal, leading to the dismissal of the quantum appeal. The penalty under s. 271(1)(a) was upheld, while the penalty under s. 271(1)(c) was cancelled due to a variance in valuation reports not constituting concealment of income. en-us Thu, 19 Aug 1993 00:00:00 +0530 Mon, 07 Mar 2011 14:34:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66799 The Tribunal upheld the validity of the reopening of assessment under s. 147(b) for the quantum appeal, leading to the dismissal of the quantum appeal. The penalty under s. 271(1)(a) was upheld, while the penalty under s. 271(1)(c) was cancelled due to a variance in valuation reports not constituting concealment of income. Case-Laws Income Tax Thu, 19 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66799