https://www.taxtmi.com/caselaws?id=192842 The Tribunal allowed the assessee's appeals, holding that the re-assessment proceedings initiated under section 147 were invalid as they were based on mere suspicion without any concrete evidence. Consequently, the assessments framed on the basis of the notices issued under section 148 were set aside as illegal and bad in law. The Tribunal did not provide a finding on the merits of the other grounds contested by the assessee, as the primary issue of the validity of the re-assessment proceedings was decided in favor of the assessee. en-us Mon, 28 Feb 2011 00:00:00 +0530 Tue, 25 Apr 2023 11:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192842 The Tribunal allowed the assessee's appeals, holding that the re-assessment proceedings initiated under section 147 were invalid as they were based on mere suspicion without any concrete evidence. Consequently, the assessments framed on the basis of the notices issued under section 148 were set aside as illegal and bad in law. The Tribunal did not provide a finding on the merits of the other grounds contested by the assessee, as the primary issue of the validity of the re-assessment proceedings was decided in favor of the assessee. Case-Laws Income Tax Mon, 28 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192842