https://www.taxtmi.com/caselaws?id=257701 The Tribunal upheld the decision that the reopening of the assessment under section 148 of the Income Tax Act, 1961 was invalid. The reassessment was annulled as the Assessing Officer did not have a valid reason to believe income had escaped assessment. The Tribunal emphasized the necessity of independent assessment before initiating reassessment proceedings, dismissing the Revenue's appeal without further consideration of other grounds. en-us Wed, 17 Dec 2014 00:00:00 +0530 Fri, 20 Mar 2015 02:50:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257701 The Tribunal upheld the decision that the reopening of the assessment under section 148 of the Income Tax Act, 1961 was invalid. The reassessment was annulled as the Assessing Officer did not have a valid reason to believe income had escaped assessment. The Tribunal emphasized the necessity of independent assessment before initiating reassessment proceedings, dismissing the Revenue's appeal without further consideration of other grounds. Case-Laws Income Tax Wed, 17 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257701