https://www.taxtmi.com/caselaws?id=20007 The court upheld the annulment of reassessment proceedings for the assessment year 1978-79 under section 148 of the Income-tax Act, citing the Tribunal's diligent consideration of material aspects. It found no evidence to disturb the Tribunal's findings, leading to the deletion of additions made by the Income-tax Officer. The court emphasized the Tribunal's thorough analysis in deleting the additions related to the probable cost of construction and unexplained investment, supported by accurate accounts and expert valuations. Ultimately, the court dismissed Revenue's applications, affirming the Tribunal's decisions and ordering costs against the Revenue. en-us Wed, 03 Nov 1993 00:00:00 +0530 Wed, 11 Nov 2009 11:16:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20007 The court upheld the annulment of reassessment proceedings for the assessment year 1978-79 under section 148 of the Income-tax Act, citing the Tribunal's diligent consideration of material aspects. It found no evidence to disturb the Tribunal's findings, leading to the deletion of additions made by the Income-tax Officer. The court emphasized the Tribunal's thorough analysis in deleting the additions related to the probable cost of construction and unexplained investment, supported by accurate accounts and expert valuations. Ultimately, the court dismissed Revenue's applications, affirming the Tribunal's decisions and ordering costs against the Revenue. Case-Laws Income Tax Wed, 03 Nov 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20007