https://www.taxtmi.com/caselaws?id=192111 The Tribunal found the reopening of assessment under sections 147/148 unjustified as it lacked tangible material for income escapement, emphasizing the necessity of complying with legal requirements. The Tribunal accepted the appellant's arguments, holding the assessment reopening as bad in law and setting aside the lower authorities' orders. The appeal was allowed, highlighting the significance of tangible material and legal precedents in reopening assessments. The Tribunal did not address the disallowance of expenses, focusing primarily on the validity of the assessment order. en-us Wed, 16 Dec 2015 00:00:00 +0530 Sat, 13 May 2017 20:35:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192111 The Tribunal found the reopening of assessment under sections 147/148 unjustified as it lacked tangible material for income escapement, emphasizing the necessity of complying with legal requirements. The Tribunal accepted the appellant's arguments, holding the assessment reopening as bad in law and setting aside the lower authorities' orders. The appeal was allowed, highlighting the significance of tangible material and legal precedents in reopening assessments. The Tribunal did not address the disallowance of expenses, focusing primarily on the validity of the assessment order. Case-Laws Income Tax Wed, 16 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192111