https://www.taxtmi.com/caselaws?id=234027 The High Court dismissed the revenue's appeal against the reassessment proceedings initiated under section 147 of the Income Tax Act. The Court found discrepancies in the reasons recorded for reopening the assessment, noting that the list referred to by the assessing officer was not part of the assessment record. The Court emphasized the importance of the list having a live link with the material on record, which was lacking in this case. The review petition was subsequently dismissed for lack of merit, upholding the Tribunal's decision in favor of the assessee. en-us Fri, 26 Apr 2013 00:00:00 +0530 Sat, 25 May 2013 17:56:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234027 The High Court dismissed the revenue's appeal against the reassessment proceedings initiated under section 147 of the Income Tax Act. The Court found discrepancies in the reasons recorded for reopening the assessment, noting that the list referred to by the assessing officer was not part of the assessment record. The Court emphasized the importance of the list having a live link with the material on record, which was lacking in this case. The review petition was subsequently dismissed for lack of merit, upholding the Tribunal's decision in favor of the assessee. Case-Laws Income Tax Fri, 26 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234027