https://www.taxtmi.com/caselaws?id=216282 The High Court upheld the ITAT's decision, ruling that the re-assessment under Section 147 was invalid as there was no failure on the part of the assessee to disclose material facts. Additionally, the Court affirmed that mesne profits accrued only upon the passing of the decree and could not be taxed in earlier years. The revenue's appeals were dismissed, and the court ruled in favor of the assessee on the legal questions presented. en-us Fri, 31 Aug 2012 00:00:00 +0530 Tue, 04 Sep 2012 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216282 The High Court upheld the ITAT's decision, ruling that the re-assessment under Section 147 was invalid as there was no failure on the part of the assessee to disclose material facts. Additionally, the Court affirmed that mesne profits accrued only upon the passing of the decree and could not be taxed in earlier years. The revenue's appeals were dismissed, and the court ruled in favor of the assessee on the legal questions presented. Case-Laws Income Tax Fri, 31 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216282