https://www.taxtmi.com/caselaws?id=211347 The Tribunal upheld the validity of reassessment under section 147 of the Income-tax Act, ruling in favor of the Department based on specific information justifying the reassessment. Additionally, the Tribunal supported the deletion of the Rs. 63,76,387 addition made by the Assessing Officer, accepting the assessee's explanation regarding the difference in gross receipts. The reassessment was deemed valid, and the addition was deleted after the Tribunal found the explanation provided by the assessee to be reasonable and logical, ultimately dismissing both the appeal and cross-objection. en-us Thu, 18 Feb 2010 00:00:00 +0530 Wed, 05 Jun 2013 11:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211347 The Tribunal upheld the validity of reassessment under section 147 of the Income-tax Act, ruling in favor of the Department based on specific information justifying the reassessment. Additionally, the Tribunal supported the deletion of the Rs. 63,76,387 addition made by the Assessing Officer, accepting the assessee's explanation regarding the difference in gross receipts. The reassessment was deemed valid, and the addition was deleted after the Tribunal found the explanation provided by the assessee to be reasonable and logical, ultimately dismissing both the appeal and cross-objection. Case-Laws Income Tax Thu, 18 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211347