https://www.taxtmi.com/caselaws?id=256577 The Tribunal upheld the CIT(A)'s decision, emphasizing the necessity of valid reasons to believe in income escapement and proper examination of information before reopening assessments. The Revenue's appeal challenging the quashing of the notice under Section 148 of the Income-tax Act, 1961 was dismissed due to vague and incorrect reasons cited by the Assessing Officer. The Tribunal found factual discrepancies and lack of proper examination of information, leading to the invalidation of the notice. Consequently, the addition of `12 lakhs was deleted, and the Revenue's appeal was rejected on 22nd August 2014. en-us Fri, 22 Aug 2014 00:00:00 +0530 Tue, 17 Feb 2015 08:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256577 The Tribunal upheld the CIT(A)'s decision, emphasizing the necessity of valid reasons to believe in income escapement and proper examination of information before reopening assessments. The Revenue's appeal challenging the quashing of the notice under Section 148 of the Income-tax Act, 1961 was dismissed due to vague and incorrect reasons cited by the Assessing Officer. The Tribunal found factual discrepancies and lack of proper examination of information, leading to the invalidation of the notice. Consequently, the addition of `12 lakhs was deleted, and the Revenue's appeal was rejected on 22nd August 2014. Case-Laws Income Tax Fri, 22 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256577