https://www.taxtmi.com/caselaws?id=71031 The Tribunal held that the reopening of the assessment under section 147 of the Income-tax Act for the year 1993-94 was unjustified and bad in law. The Assessing Officer's reasons for reopening the assessment lacked specificity and a direct connection to the assessment year in question. The Tribunal emphasized that the belief for reopening should be based on reliable and specific information relevant to the year being reassessed. The majority view dismissed the revenue's appeal and deemed the cross-objection by the assessee infructuous. en-us Thu, 22 Jan 2004 00:00:00 +0530 Thu, 21 Apr 2011 10:16:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71031 The Tribunal held that the reopening of the assessment under section 147 of the Income-tax Act for the year 1993-94 was unjustified and bad in law. The Assessing Officer's reasons for reopening the assessment lacked specificity and a direct connection to the assessment year in question. The Tribunal emphasized that the belief for reopening should be based on reliable and specific information relevant to the year being reassessed. The majority view dismissed the revenue's appeal and deemed the cross-objection by the assessee infructuous. Case-Laws Income Tax Thu, 22 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71031