https://www.taxtmi.com/caselaws?id=344062 The tribunal overturned the reassessments for the impugned years, ruling in favor of the appellant. It held that the income from the property should be assessed in the husband's hands, not the appellant's, based on the settlement deed and Section 27(i) of the Income Tax Act. The tribunal found the reasons for reopening lacked merit and did not demonstrate income escapement in the appellant's hands. Consequently, the reassessments were set aside due to a lack of proper application of legal principles under Section 147, leading to a successful appeal by the appellant. en-us Wed, 26 Apr 2017 00:00:00 +0530 Thu, 08 Jun 2017 05:57:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344062 The tribunal overturned the reassessments for the impugned years, ruling in favor of the appellant. It held that the income from the property should be assessed in the husband's hands, not the appellant's, based on the settlement deed and Section 27(i) of the Income Tax Act. The tribunal found the reasons for reopening lacked merit and did not demonstrate income escapement in the appellant's hands. Consequently, the reassessments were set aside due to a lack of proper application of legal principles under Section 147, leading to a successful appeal by the appellant. Case-Laws Income Tax Wed, 26 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344062