https://www.taxtmi.com/caselaws?id=373190 The High Court of Calcutta upheld the tribunal's decision, dismissing the revenue's appeals in cases involving the reopening of assessments under Section 147 based on alleged violations of Section 269SS of the Income Tax Act, 1961. The court emphasized the importance of valid grounds and material evidence in reassessment proceedings, highlighting that mere suspicion or presumption without substantial evidence is not permissible. The judgment reaffirmed the need for a prudent and reasonable approach by income tax authorities, emphasizing the requirement to establish non-disclosure of material facts by the assessee for valid reassessment. en-us Fri, 21 Dec 2018 00:00:00 +0530 Tue, 08 Jan 2019 10:49:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373190 The High Court of Calcutta upheld the tribunal's decision, dismissing the revenue's appeals in cases involving the reopening of assessments under Section 147 based on alleged violations of Section 269SS of the Income Tax Act, 1961. The court emphasized the importance of valid grounds and material evidence in reassessment proceedings, highlighting that mere suspicion or presumption without substantial evidence is not permissible. The judgment reaffirmed the need for a prudent and reasonable approach by income tax authorities, emphasizing the requirement to establish non-disclosure of material facts by the assessee for valid reassessment. Case-Laws Income Tax Fri, 21 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373190