https://www.taxtmi.com/caselaws?id=192535 The Tribunal quashed the reopening of the assessment under sections 147/148 of the Income Tax Act, finding it invalid due to lack of tangible material. The Tribunal emphasized the necessity of tangible material for reopening assessments, highlighting that arbitrary exercise of power under section 147 is impermissible. Consequently, all additions made by the Assessing Officer were deleted, and the assessee's appeal was allowed. en-us Wed, 21 Dec 2016 00:00:00 +0530 Mon, 05 Jun 2017 07:08:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192535 The Tribunal quashed the reopening of the assessment under sections 147/148 of the Income Tax Act, finding it invalid due to lack of tangible material. The Tribunal emphasized the necessity of tangible material for reopening assessments, highlighting that arbitrary exercise of power under section 147 is impermissible. Consequently, all additions made by the Assessing Officer were deleted, and the assessee's appeal was allowed. Case-Laws Income Tax Wed, 21 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192535