https://www.taxtmi.com/caselaws?id=67788 The Appellate Tribunal upheld the decision of the Appellate Authority to quash the reassessment orders in a case concerning the reopening of assessments under section 147(b) of the Income Tax Act, 1961. The Tribunal ruled in favor of the assessee, an HUF, stating that the audit note did not provide new information justifying the reassessment. Additionally, the Tribunal found that the claim of exemption on income from rent received by the HUF was valid, emphasizing that each assessment year is independent, and the assessee had the right to present its case differently each year. en-us Mon, 24 Nov 1980 00:00:00 +0530 Mon, 14 Mar 2011 15:51:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67788 The Appellate Tribunal upheld the decision of the Appellate Authority to quash the reassessment orders in a case concerning the reopening of assessments under section 147(b) of the Income Tax Act, 1961. The Tribunal ruled in favor of the assessee, an HUF, stating that the audit note did not provide new information justifying the reassessment. Additionally, the Tribunal found that the claim of exemption on income from rent received by the HUF was valid, emphasizing that each assessment year is independent, and the assessee had the right to present its case differently each year. Case-Laws Income Tax Mon, 24 Nov 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67788