https://www.taxtmi.com/caselaws?id=362297 The High Court upheld the Tribunal's decision to set aside the reassessment under Section 147 read with Section 148 of the Income Tax Act, emphasizing the need for full disclosure of material facts for assessment. The court dismissed the Revenue's appeal due to the absence of a challenge against the order allowing the assessee's cross-objection, leading to the rejection of the appeal. The case highlighted the significance of adhering to legal precedents in tax assessments and the consequences of failing to disclose all relevant information. en-us Wed, 13 Jun 2018 00:00:00 +0530 Fri, 22 Jun 2018 09:01:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362297 The High Court upheld the Tribunal's decision to set aside the reassessment under Section 147 read with Section 148 of the Income Tax Act, emphasizing the need for full disclosure of material facts for assessment. The court dismissed the Revenue's appeal due to the absence of a challenge against the order allowing the assessee's cross-objection, leading to the rejection of the appeal. The case highlighted the significance of adhering to legal precedents in tax assessments and the consequences of failing to disclose all relevant information. Case-Laws Income Tax Wed, 13 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362297