https://www.taxtmi.com/caselaws?id=200604 The appeal was allowed, and the reassessment framed under Section 147 of the Income Tax Act was quashed due to the Assessing Officer's reliance on presumptions rather than verified facts. The determination of the fair rental value and the subsequent addition to the income from house property were also found to be baseless and unsupported by concrete evidence. The judgment emphasized the necessity for the Assessing Officer to act on tangible material facts rather than mere suspicion or presumption. en-us Fri, 16 Dec 2016 00:00:00 +0530 Fri, 06 Apr 2018 21:07:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200604 The appeal was allowed, and the reassessment framed under Section 147 of the Income Tax Act was quashed due to the Assessing Officer's reliance on presumptions rather than verified facts. The determination of the fair rental value and the subsequent addition to the income from house property were also found to be baseless and unsupported by concrete evidence. The judgment emphasized the necessity for the Assessing Officer to act on tangible material facts rather than mere suspicion or presumption. Case-Laws Income Tax Fri, 16 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200604