https://www.taxtmi.com/caselaws?id=188922 The Delhi High Court dismissed the appeal regarding the validity of reassessment proceedings initiated under Sections 147/148 of the Income Tax Act for the Assessment Year 2004-05. The Court found that the Assessing Officer did not have sufficient and relevant material to form a belief that income had escaped assessment, as the reasons recorded were vague and lacking in detail. Emphasizing the importance of the AO applying his mind before initiating reassessment, the Court held that the proceedings were unjustified, similar to previous instances, and no substantial question of law arose, leading to the dismissal of the appeal. en-us Thu, 19 Nov 2015 00:00:00 +0530 Wed, 21 Dec 2016 07:29:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188922 The Delhi High Court dismissed the appeal regarding the validity of reassessment proceedings initiated under Sections 147/148 of the Income Tax Act for the Assessment Year 2004-05. The Court found that the Assessing Officer did not have sufficient and relevant material to form a belief that income had escaped assessment, as the reasons recorded were vague and lacking in detail. Emphasizing the importance of the AO applying his mind before initiating reassessment, the Court held that the proceedings were unjustified, similar to previous instances, and no substantial question of law arose, leading to the dismissal of the appeal. Case-Laws Income Tax Thu, 19 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188922