https://www.taxtmi.com/caselaws?id=240884 The High Court dismissed the Income Tax Appeal, upholding the ITAT's decision to quash the re-assessment proceedings under Section 148. The Court found the re-assessment lacked relevant information and was based on unfounded assumptions by the Assessing Officer. It concluded that the additions made by the AO were unjustified and not connected to the reasons for re-opening the assessment. The Court emphasized the importance of concrete facts in re-assessment and highlighted the necessity for substantiated grounds supported by evidence in income tax assessments. en-us Mon, 02 Dec 2013 00:00:00 +0530 Fri, 13 Dec 2013 07:14:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240884 The High Court dismissed the Income Tax Appeal, upholding the ITAT's decision to quash the re-assessment proceedings under Section 148. The Court found the re-assessment lacked relevant information and was based on unfounded assumptions by the Assessing Officer. It concluded that the additions made by the AO were unjustified and not connected to the reasons for re-opening the assessment. The Court emphasized the importance of concrete facts in re-assessment and highlighted the necessity for substantiated grounds supported by evidence in income tax assessments. Case-Laws Income Tax Mon, 02 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240884