https://www.taxtmi.com/caselaws?id=12499 The court held that the Assessing Officer was not justified in reopening the assessment under section 148 of the Income-tax Act, 1961, based on discrepancies in the cost of construction declared by the assessee for the assessment years 1990-91, 1991-92, and 1992-93. The Tribunal found that the reasons recorded for reassessment were invalid, and the subsequent material presented did not support the reassessment. Consequently, the additions made by the Income-tax Officer on reopening the assessment were deemed unjustified, leading to the deletion of the additions and the dismissal of the application seeking reference. en-us Wed, 03 Oct 2001 00:00:00 +0530 Tue, 02 Mar 2010 13:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12499 The court held that the Assessing Officer was not justified in reopening the assessment under section 148 of the Income-tax Act, 1961, based on discrepancies in the cost of construction declared by the assessee for the assessment years 1990-91, 1991-92, and 1992-93. The Tribunal found that the reasons recorded for reassessment were invalid, and the subsequent material presented did not support the reassessment. Consequently, the additions made by the Income-tax Officer on reopening the assessment were deemed unjustified, leading to the deletion of the additions and the dismissal of the application seeking reference. Case-Laws Income Tax Wed, 03 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12499