https://www.taxtmi.com/caselaws?id=151696 The Tribunal dismissed the appeal against the quashing of proceedings under section 147 for the assessment year 1997-98. It held that the conditions of section 147 were not met as there was no failure on the part of the assessee to disclose all material facts necessary for assessment. The Tribunal emphasized the importance of distinguishing between general cases of income escaping assessment and cases falling under the proviso, ruling that the grounds cited in the notice under section 148 did not constitute a failure to disclose material facts. The assessment under section 147 was annulled for the relevant year. en-us Thu, 08 May 2008 00:00:00 +0530 Thu, 14 Sep 2017 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151696 The Tribunal dismissed the appeal against the quashing of proceedings under section 147 for the assessment year 1997-98. It held that the conditions of section 147 were not met as there was no failure on the part of the assessee to disclose all material facts necessary for assessment. The Tribunal emphasized the importance of distinguishing between general cases of income escaping assessment and cases falling under the proviso, ruling that the grounds cited in the notice under section 148 did not constitute a failure to disclose material facts. The assessment under section 147 was annulled for the relevant year. Case-Laws Income Tax Thu, 08 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151696