https://www.taxtmi.com/caselaws?id=347289 The High Court deemed the re-assessment proceedings initiated under Section 147 of the Income Tax Act, 1961 as illegal. The Court upheld the Tribunal's decision, ruling in favor of the assessee, as the assessing officer failed to demonstrate that income had escaped assessment due to the assessee's non-disclosure of material facts necessary for assessment. The Court emphasized the necessity for authorities to establish such non-disclosure before initiating re-assessment proceedings. Consequently, the appeal against the Tribunal's decision was dismissed. en-us Wed, 23 Aug 2017 00:00:00 +0530 Fri, 22 Jun 2018 16:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347289 The High Court deemed the re-assessment proceedings initiated under Section 147 of the Income Tax Act, 1961 as illegal. The Court upheld the Tribunal's decision, ruling in favor of the assessee, as the assessing officer failed to demonstrate that income had escaped assessment due to the assessee's non-disclosure of material facts necessary for assessment. The Court emphasized the necessity for authorities to establish such non-disclosure before initiating re-assessment proceedings. Consequently, the appeal against the Tribunal's decision was dismissed. Case-Laws Income Tax Wed, 23 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347289