https://www.taxtmi.com/caselaws?id=254094 The Tribunal upheld the Assessing Officer's "reason to believe" for initiating reassessment, validating the notice under Section 148 based on sufficient material. The Tribunal emphasized the rational connection of information used to reopen the assessment, rejecting claims of availability during the original assessment. Procedural lapses were overcome by deeming notice served under Section 292BB due to the assessee's non-objection. The CIT(A) was mandated to address all grounds once the primary issue was resolved. The Tribunal remanded the limitation period issue under Section 147 back to the CIT(A) for further review, ultimately allowing all appeals by the Revenue. en-us Fri, 12 Sep 2014 00:00:00 +0530 Fri, 12 Dec 2014 09:14:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254094 The Tribunal upheld the Assessing Officer's "reason to believe" for initiating reassessment, validating the notice under Section 148 based on sufficient material. The Tribunal emphasized the rational connection of information used to reopen the assessment, rejecting claims of availability during the original assessment. Procedural lapses were overcome by deeming notice served under Section 292BB due to the assessee's non-objection. The CIT(A) was mandated to address all grounds once the primary issue was resolved. The Tribunal remanded the limitation period issue under Section 147 back to the CIT(A) for further review, ultimately allowing all appeals by the Revenue. Case-Laws Income Tax Fri, 12 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254094