https://www.taxtmi.com/caselaws?id=4124 The court dismissed all appeals by the Revenue, affirming the Income-tax Appellate Tribunal's judgment in favor of the assessee. The primary issue was the interpretation of the proviso to section 147 regarding the reopening of assessments. The court clarified that the proviso does not restrict the main provision and only applies in cases of assessee's failure, not Assessing Officer's fault. The court emphasized that deeming provisions apply when there is a failure on the part of the assessee for escaped assessments made at too low a rate. en-us Fri, 21 Sep 2007 00:00:00 +0530 Fri, 12 Jul 2013 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4124 The court dismissed all appeals by the Revenue, affirming the Income-tax Appellate Tribunal's judgment in favor of the assessee. The primary issue was the interpretation of the proviso to section 147 regarding the reopening of assessments. The court clarified that the proviso does not restrict the main provision and only applies in cases of assessee's failure, not Assessing Officer's fault. The court emphasized that deeming provisions apply when there is a failure on the part of the assessee for escaped assessments made at too low a rate. Case-Laws Income Tax Fri, 21 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4124