https://www.taxtmi.com/caselaws?id=247821 The Calcutta High Court overturned the reassessment orders for the assessment years 2006-07 and 2007-08 under section 147 of the Income Tax Act. The court found that additional evidence submitted before the appellate authority was not presented to the Assessing Officer, violating procedural rules and principles of natural justice. The reassessment based on cash deposits in bank accounts was deemed flawed and the belief of income escapement was considered erroneous. The court emphasized the importance of adhering to procedural rules and ensuring the admissibility of evidence in tax assessment proceedings, ultimately allowing the appeal against the reassessment for both years. en-us Mon, 24 Mar 2014 00:00:00 +0530 Tue, 17 Mar 2015 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247821 The Calcutta High Court overturned the reassessment orders for the assessment years 2006-07 and 2007-08 under section 147 of the Income Tax Act. The court found that additional evidence submitted before the appellate authority was not presented to the Assessing Officer, violating procedural rules and principles of natural justice. The reassessment based on cash deposits in bank accounts was deemed flawed and the belief of income escapement was considered erroneous. The court emphasized the importance of adhering to procedural rules and ensuring the admissibility of evidence in tax assessment proceedings, ultimately allowing the appeal against the reassessment for both years. Case-Laws Income Tax Mon, 24 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247821