https://www.taxtmi.com/caselaws?id=70102 The Tribunal allowed the revenue's appeal, upholding the reassessment order under section 147(b) and reversing the CIT(A)'s decision to cancel the reassessment for the assessment year 1982-83. The reassessment was deemed valid as the Assessing Officer's failure to disallow foreign buyers' entertainment expenses under Explanation 2 to section 37(2A) was considered negligence falling within the scope of reassessment. The Tribunal emphasized the significance of applying relevant provisions diligently to prevent errors and omissions in assessment procedures. en-us Wed, 13 Oct 1993 00:00:00 +0530 Thu, 14 Apr 2011 13:05:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70102 The Tribunal allowed the revenue's appeal, upholding the reassessment order under section 147(b) and reversing the CIT(A)'s decision to cancel the reassessment for the assessment year 1982-83. The reassessment was deemed valid as the Assessing Officer's failure to disallow foreign buyers' entertainment expenses under Explanation 2 to section 37(2A) was considered negligence falling within the scope of reassessment. The Tribunal emphasized the significance of applying relevant provisions diligently to prevent errors and omissions in assessment procedures. Case-Laws Income Tax Wed, 13 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70102