https://www.taxtmi.com/caselaws?id=278847 The Tribunal quashed the re-assessment proceedings as the Assessing Officer failed to validly initiate proceedings under section 147/148 of the IT Act. The reasons for reopening the assessment were vague and unsupported by new evidence. Additionally, the re-assessment after four years was deemed invalid due to the assessee's full disclosure of material facts. The notice issued under section 148 was found to be beyond the prescribed time limit, and the service of notice was unreliable. Consequently, all additions made by the AO were deleted, and the departmental appeals were dismissed. en-us Thu, 04 Apr 2013 00:00:00 +0530 Fri, 22 Feb 2019 17:46:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278847 The Tribunal quashed the re-assessment proceedings as the Assessing Officer failed to validly initiate proceedings under section 147/148 of the IT Act. The reasons for reopening the assessment were vague and unsupported by new evidence. Additionally, the re-assessment after four years was deemed invalid due to the assessee's full disclosure of material facts. The notice issued under section 148 was found to be beyond the prescribed time limit, and the service of notice was unreliable. Consequently, all additions made by the AO were deleted, and the departmental appeals were dismissed. Case-Laws Income Tax Thu, 04 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278847