https://www.taxtmi.com/caselaws?id=326220 The Tribunal dismissed both the Assessee's and the Revenue's appeals. The reassessment proceedings initiated under Section 148 were held to be invalid as they were barred by time and lacked the necessary basis to establish that the Assessee had failed to disclose material facts fully and truly. Consequently, the addition of Rs. 1,05,79,669 to the Assessee's total income was also invalidated. en-us Wed, 02 Mar 2016 00:00:00 +0530 Sat, 09 Apr 2016 07:57:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326220 The Tribunal dismissed both the Assessee's and the Revenue's appeals. The reassessment proceedings initiated under Section 148 were held to be invalid as they were barred by time and lacked the necessary basis to establish that the Assessee had failed to disclose material facts fully and truly. Consequently, the addition of Rs. 1,05,79,669 to the Assessee's total income was also invalidated. Case-Laws Income Tax Wed, 02 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326220