https://www.taxtmi.com/caselaws?id=234852 The Tribunal declared the reopening of assessments invalid as the reasons recorded by the Assessing Officer were deemed erroneous. The belief of income escapement was based on incorrect facts, and no additions were made on the original grounds for reopening. The Tribunal referenced precedents emphasizing the necessity for reassessment proceedings to be grounded in valid and existing facts. Consequently, the Tribunal allowed the assessee's cross-objections, dismissing the Revenue's appeals as infructuous and academic. The court order was issued on 21.06.2013. en-us Fri, 21 Jun 2013 00:00:00 +0530 Mon, 01 Jul 2013 13:43:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234852 The Tribunal declared the reopening of assessments invalid as the reasons recorded by the Assessing Officer were deemed erroneous. The belief of income escapement was based on incorrect facts, and no additions were made on the original grounds for reopening. The Tribunal referenced precedents emphasizing the necessity for reassessment proceedings to be grounded in valid and existing facts. Consequently, the Tribunal allowed the assessee's cross-objections, dismissing the Revenue's appeals as infructuous and academic. The court order was issued on 21.06.2013. Case-Laws Income Tax Fri, 21 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234852