https://www.taxtmi.com/caselaws?id=333665 The Tribunal upheld the validity of re-assessment proceedings under section 147, rejecting the argument of a change of opinion and citing new information about omitted provisions. Deductions on reversal of provisions were disallowed due to failure to establish a link between the original creation and reversal of provisions. The Tribunal emphasized the burden of proof on the assessee. Concerns regarding penalty proceedings were raised but not separately analyzed. The appeal was dismissed, affirming the re-assessment validity and disallowance of deductions, stressing the necessity of substantiating claims with evidence. en-us Fri, 26 Aug 2016 00:00:00 +0530 Thu, 20 Oct 2016 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333665 The Tribunal upheld the validity of re-assessment proceedings under section 147, rejecting the argument of a change of opinion and citing new information about omitted provisions. Deductions on reversal of provisions were disallowed due to failure to establish a link between the original creation and reversal of provisions. The Tribunal emphasized the burden of proof on the assessee. Concerns regarding penalty proceedings were raised but not separately analyzed. The appeal was dismissed, affirming the re-assessment validity and disallowance of deductions, stressing the necessity of substantiating claims with evidence. Case-Laws Income Tax Fri, 26 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333665