https://www.taxtmi.com/caselaws?id=368157 The Tribunal quashed the reassessment proceedings in a tax case due to the lack of a valid jurisdictional exercise by the Assessing Officer (AO). The Tribunal emphasized the need for concrete evidence to support income escapement and held that the AO lacked jurisdiction to make additional assessments as no valid additions were made for which the assessment was reopened. The appeal was allowed based on the legal ground of reassessment proceeding validity, highlighting the importance of meeting mandatory jurisdictional conditions in tax assessments. en-us Thu, 20 Sep 2018 00:00:00 +0530 Mon, 01 Oct 2018 09:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368157 The Tribunal quashed the reassessment proceedings in a tax case due to the lack of a valid jurisdictional exercise by the Assessing Officer (AO). The Tribunal emphasized the need for concrete evidence to support income escapement and held that the AO lacked jurisdiction to make additional assessments as no valid additions were made for which the assessment was reopened. The appeal was allowed based on the legal ground of reassessment proceeding validity, highlighting the importance of meeting mandatory jurisdictional conditions in tax assessments. Case-Laws Income Tax Thu, 20 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368157