https://www.taxtmi.com/caselaws?id=118550 The Tribunal upheld the validity of the reassessment under section 147 for the appellant's income tax return of 1994-95, allowing it based on new facts discovered during the subsequent year's assessment. The reassessment was deemed permissible due to undisclosed crucial facts, leading to a remand for a fresh decision on the deduction claimed under section 80-I. The Tribunal emphasized the necessity of disclosing primary facts for accurate assessments and highlighted the importance of complying with legal precedents in reopening assessments based on newly discovered information. en-us Mon, 12 Dec 2005 00:00:00 +0530 Wed, 04 Jul 2012 11:33:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118550 The Tribunal upheld the validity of the reassessment under section 147 for the appellant's income tax return of 1994-95, allowing it based on new facts discovered during the subsequent year's assessment. The reassessment was deemed permissible due to undisclosed crucial facts, leading to a remand for a fresh decision on the deduction claimed under section 80-I. The Tribunal emphasized the necessity of disclosing primary facts for accurate assessments and highlighted the importance of complying with legal precedents in reopening assessments based on newly discovered information. Case-Laws Income Tax Mon, 12 Dec 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118550