https://www.taxtmi.com/caselaws?id=71366 The Tribunal upheld the CIT(A)'s decision to annul assessment orders for the mentioned years. It found that the AO failed to establish non-disclosure of material facts by the assessee, leading to invalid proceedings under section 147. Emphasizing the importance of disclosing material facts, the Tribunal highlighted the obligation of the AO to draw correct inferences from disclosed facts. Due to the lack of precise disclosure by the assessee, the Tribunal dismissed the Department's appeals and quashed the assessment orders for both years. en-us Wed, 28 Feb 2007 00:00:00 +0530 Thu, 26 Jul 2012 14:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71366 The Tribunal upheld the CIT(A)'s decision to annul assessment orders for the mentioned years. It found that the AO failed to establish non-disclosure of material facts by the assessee, leading to invalid proceedings under section 147. Emphasizing the importance of disclosing material facts, the Tribunal highlighted the obligation of the AO to draw correct inferences from disclosed facts. Due to the lack of precise disclosure by the assessee, the Tribunal dismissed the Department's appeals and quashed the assessment orders for both years. Case-Laws Income Tax Wed, 28 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71366