https://www.taxtmi.com/caselaws?id=234982 The court found the notice of re-opening issued under Section 148 of the Income Tax Act lacked a valid basis as it relied solely on a statement without corroborative evidence, leading to the dismissal of tax appeals for A.Y. 1999-2000. The Tribunal's decision to quash reassessment proceedings for A.Y. 2000-01 was upheld, emphasizing the invalidity of the notice. The court did not address the addition made by the Assessing Officer on unexplained creditors, focusing on the lack of basis for the notice. The court stressed the importance of corroborative evidence and dismissed the appeals due to insufficient evidence supporting the reassessment proceedings. en-us Tue, 30 Apr 2013 00:00:00 +0530 Thu, 14 May 2026 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234982 The court found the notice of re-opening issued under Section 148 of the Income Tax Act lacked a valid basis as it relied solely on a statement without corroborative evidence, leading to the dismissal of tax appeals for A.Y. 1999-2000. The Tribunal's decision to quash reassessment proceedings for A.Y. 2000-01 was upheld, emphasizing the invalidity of the notice. The court did not address the addition made by the Assessing Officer on unexplained creditors, focusing on the lack of basis for the notice. The court stressed the importance of corroborative evidence and dismissed the appeals due to insufficient evidence supporting the reassessment proceedings. Case-Laws Income Tax Tue, 30 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234982