https://www.taxtmi.com/caselaws?id=174352 The Tribunal quashed the reassessment proceedings initiated under sections 147/148 due to lack of jurisdictional foundation, as the Assessing Officer (AO) did not establish any failure on the part of the assessee to disclose all necessary material facts. Consequently, the additions made by the AO and the charging of interest under section 234B were rendered infructuous. The appeal was allowed in favor of the assessee. en-us Fri, 23 Dec 2011 00:00:00 +0530 Wed, 07 Oct 2015 10:20:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174352 The Tribunal quashed the reassessment proceedings initiated under sections 147/148 due to lack of jurisdictional foundation, as the Assessing Officer (AO) did not establish any failure on the part of the assessee to disclose all necessary material facts. Consequently, the additions made by the AO and the charging of interest under section 234B were rendered infructuous. The appeal was allowed in favor of the assessee. Case-Laws Income Tax Fri, 23 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174352