https://www.taxtmi.com/caselaws?id=201485 The Court held that the appellant waived the challenge to the legality of proceedings under Sections 147 and 148 by not raising it earlier, citing legal estoppel. The reassessment was deemed valid as it was based on a reasonable belief of escaped income, in accordance with relevant case law. The Tribunal's decision to reverse the CIT (Appeals) order was found erroneous due to lack of consistency in decisions, leading the Court to restore the CIT (Appeals) order granting relief to the appellant. The appeal was disposed of without costs. en-us Tue, 05 Oct 2010 00:00:00 +0530 Thu, 13 Dec 2012 13:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201485 The Court held that the appellant waived the challenge to the legality of proceedings under Sections 147 and 148 by not raising it earlier, citing legal estoppel. The reassessment was deemed valid as it was based on a reasonable belief of escaped income, in accordance with relevant case law. The Tribunal's decision to reverse the CIT (Appeals) order was found erroneous due to lack of consistency in decisions, leading the Court to restore the CIT (Appeals) order granting relief to the appellant. The appeal was disposed of without costs. Case-Laws Income Tax Tue, 05 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201485