https://www.taxtmi.com/caselaws?id=69498 The Tribunal upheld the validity of reassessment proceedings under section 147(b) of the Income-tax Act, 1961, due to information obtained post the original assessment indicating income had escaped assessment. Additionally, it ruled that section 64(1)(vi) did not apply as there was no direct or indirect transfer of assets to the beneficiaries through the trust, leading to the dismissal of both the appeal and cross-objection. en-us Fri, 31 Dec 1982 00:00:00 +0530 Thu, 07 Apr 2011 13:13:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69498 The Tribunal upheld the validity of reassessment proceedings under section 147(b) of the Income-tax Act, 1961, due to information obtained post the original assessment indicating income had escaped assessment. Additionally, it ruled that section 64(1)(vi) did not apply as there was no direct or indirect transfer of assets to the beneficiaries through the trust, leading to the dismissal of both the appeal and cross-objection. Case-Laws Income Tax Fri, 31 Dec 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69498