https://www.taxtmi.com/caselaws?id=345028 The High Court upheld the Tribunal's decision, dismissing the tax appeal on both issues. The Court found no error in the Tribunal's judgment regarding the validity of the reopening proceedings under section 147 of the Income Tax Act, stating there was no failure by the assessee to disclose necessary facts. Additionally, the Court upheld the Tribunal's decision on the adjustment of surplus in book profit under Section 115JB, emphasizing the absence of evidence of non-disclosure by the assessee. Consequently, the tax appeal was dismissed on both grounds. en-us Mon, 19 Jun 2017 00:00:00 +0530 Wed, 05 Jul 2017 10:53:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345028 The High Court upheld the Tribunal's decision, dismissing the tax appeal on both issues. The Court found no error in the Tribunal's judgment regarding the validity of the reopening proceedings under section 147 of the Income Tax Act, stating there was no failure by the assessee to disclose necessary facts. Additionally, the Court upheld the Tribunal's decision on the adjustment of surplus in book profit under Section 115JB, emphasizing the absence of evidence of non-disclosure by the assessee. Consequently, the tax appeal was dismissed on both grounds. Case-Laws Income Tax Mon, 19 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345028