https://www.taxtmi.com/caselaws?id=76185 The High Court addressed the Department's appeals regarding the cancellation of assessments under section 147 of the Income-tax Act for the years 1990-91, 1991-92, and 1992-93. The Tribunal's decision to cancel assessments as time-barred was deemed unjustified. It was found that the assessee failed to disclose essential information for the original assessment due to inadequate bookkeeping practices. The Court emphasized the obligation of the assessee to provide necessary information even without proper books of account. Consequently, the Departmental appeals were allowed, the Tribunal's order was vacated, and the matter was remanded for reconsideration after proper notice to the parties. en-us Mon, 12 Oct 2009 00:00:00 +0530 Sun, 13 Jun 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76185 The High Court addressed the Department's appeals regarding the cancellation of assessments under section 147 of the Income-tax Act for the years 1990-91, 1991-92, and 1992-93. The Tribunal's decision to cancel assessments as time-barred was deemed unjustified. It was found that the assessee failed to disclose essential information for the original assessment due to inadequate bookkeeping practices. The Court emphasized the obligation of the assessee to provide necessary information even without proper books of account. Consequently, the Departmental appeals were allowed, the Tribunal's order was vacated, and the matter was remanded for reconsideration after proper notice to the parties. Case-Laws Income Tax Mon, 12 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76185