https://www.taxtmi.com/caselaws?id=279656 The appellate tribunal ruled in favor of the appellant, ordering the deletion of the additions made by the lower authorities. The reopening of assessment solely based on the Department Valuation Officer's report was deemed unjustified and unlawful as there was no other information or material indicating income escapement, and the books of account were not rejected. The tribunal emphasized the necessity of valid grounds supported by concrete evidence beyond the DVO's estimation before reopening assessments, aligning with legal principles established by the Supreme Court. en-us Mon, 28 Apr 2014 00:00:00 +0530 Sat, 30 Mar 2019 06:03:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279656 The appellate tribunal ruled in favor of the appellant, ordering the deletion of the additions made by the lower authorities. The reopening of assessment solely based on the Department Valuation Officer's report was deemed unjustified and unlawful as there was no other information or material indicating income escapement, and the books of account were not rejected. The tribunal emphasized the necessity of valid grounds supported by concrete evidence beyond the DVO's estimation before reopening assessments, aligning with legal principles established by the Supreme Court. Case-Laws Income Tax Mon, 28 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279656