https://www.taxtmi.com/caselaws?id=278844 The Tribunal allowed the assessee's appeals, quashing the reassessment proceedings initiated under section 148 of the Income Tax Act, 1961. The Tribunal found the initiation of reassessment to be invalid as the Assessing Officer lacked specific and reliable information to believe income had escaped assessment. Consequently, all additions made by the Assessing Officer were deleted as the Tribunal determined that the evidence provided by the assessee regarding long-term capital gains was not adequately rebutted by the A.O. en-us Thu, 05 Sep 2013 00:00:00 +0530 Fri, 22 Feb 2019 16:37:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278844 The Tribunal allowed the assessee's appeals, quashing the reassessment proceedings initiated under section 148 of the Income Tax Act, 1961. The Tribunal found the initiation of reassessment to be invalid as the Assessing Officer lacked specific and reliable information to believe income had escaped assessment. Consequently, all additions made by the Assessing Officer were deleted as the Tribunal determined that the evidence provided by the assessee regarding long-term capital gains was not adequately rebutted by the A.O. Case-Laws Income Tax Thu, 05 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278844