https://www.taxtmi.com/caselaws?id=182698 The Tribunal ruled in favor of the appellant, finding the reassessment proceedings under section 143(3) r.w.s. 147 of the Income Tax Act, 1961 for the assessment year 2002-03 invalid. The Tribunal emphasized the necessity for the Assessing Officer to independently form a belief based on received information before reopening assessments and highlighted the importance of providing an opportunity for cross-examination to ensure fairness. The decision underscored the burden of proof on the AO to demonstrate income escape assessment and stressed the requirement for legal sustainability in reassessment proceedings, ultimately quashing the reassessment and upholding procedural fairness. en-us Tue, 31 Mar 2015 00:00:00 +0530 Tue, 17 May 2016 23:08:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182698 The Tribunal ruled in favor of the appellant, finding the reassessment proceedings under section 143(3) r.w.s. 147 of the Income Tax Act, 1961 for the assessment year 2002-03 invalid. The Tribunal emphasized the necessity for the Assessing Officer to independently form a belief based on received information before reopening assessments and highlighted the importance of providing an opportunity for cross-examination to ensure fairness. The decision underscored the burden of proof on the AO to demonstrate income escape assessment and stressed the requirement for legal sustainability in reassessment proceedings, ultimately quashing the reassessment and upholding procedural fairness. Case-Laws Income Tax Tue, 31 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182698