https://www.taxtmi.com/caselaws?id=181069 The High Court considered a case involving reassessment proceedings under section 147(a) of the Income Tax Act. The Court found discrepancies between the reasons for reopening the assessment and the basis for reassessment, emphasizing that the reasons must align. Following precedents, the Court ruled in favor of the assessee, stating that the reassessment proceedings were invalid as they did not solely focus on the income that escaped assessment. The addition made during reassessment was deemed unsustainable, leading to the disposal of the reference in favor of the assessee. en-us Tue, 06 Feb 2007 00:00:00 +0530 Wed, 06 Apr 2016 17:47:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181069 The High Court considered a case involving reassessment proceedings under section 147(a) of the Income Tax Act. The Court found discrepancies between the reasons for reopening the assessment and the basis for reassessment, emphasizing that the reasons must align. Following precedents, the Court ruled in favor of the assessee, stating that the reassessment proceedings were invalid as they did not solely focus on the income that escaped assessment. The addition made during reassessment was deemed unsustainable, leading to the disposal of the reference in favor of the assessee. Case-Laws Income Tax Tue, 06 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181069