https://www.taxtmi.com/highlights?id=32924 Mere possession of assets by itself does not constitute a belief that income of the years in question had escaped assessment. Thus, the reassessment proceedings are based on presumption and suspicion and not on the basis of any specific instance of escapement of income. - AT en-us Fri, 20 Jan 2017 07:25:27 +0530 Fri, 20 Jan 2017 07:25:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=32924 Mere possession of assets by itself does not constitute a belief that income of the years in question had escaped assessment. Thus, the reassessment proceedings are based on presumption and suspicion and not on the basis of any specific instance of escapement of income. - AT Highlights Income Tax Fri, 20 Jan 2017 07:25:27 +0530 https://www.taxtmi.com/highlights?id=32924