https://www.taxtmi.com/caselaws?id=340018 The Tribunal quashed the reassessment proceedings as bad in law and illegal, finding the reopening action under Section 148 to lack jurisdiction and be based on vague and unsubstantiated reasons. The Tribunal emphasized the necessity of a rational connection between reasons recorded and income escapement belief, citing various case laws. The Assessee's appeal was allowed, and the reassessment proceedings were deemed invalid, leading to the addition of income being dismissed. en-us Fri, 10 Feb 2017 00:00:00 +0530 Tue, 14 Mar 2017 09:51:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340018 The Tribunal quashed the reassessment proceedings as bad in law and illegal, finding the reopening action under Section 148 to lack jurisdiction and be based on vague and unsubstantiated reasons. The Tribunal emphasized the necessity of a rational connection between reasons recorded and income escapement belief, citing various case laws. The Assessee's appeal was allowed, and the reassessment proceedings were deemed invalid, leading to the addition of income being dismissed. Case-Laws Income Tax Fri, 10 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340018