https://www.taxtmi.com/caselaws?id=20122 The court quashed the notice under Section 148 of the Income-tax Act and subsequent reassessment for the assessment year 1973-74 due to insufficient evidence. The valuation report alone was deemed inadequate to prove the assessee's concealment of consideration, emphasizing the Revenue's burden of proof. Additionally, the court clarified that jurisdictional errors by the Income-tax Officer warrant intervention by the writ court, leading to the nullification of the notice and assessment order in this case. Concrete evidence is crucial for reopening assessments, particularly in cases involving property valuation disputes. The appeal was dismissed without costs awarded. en-us Fri, 28 May 1993 00:00:00 +0530 Wed, 11 Nov 2009 18:11:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20122 The court quashed the notice under Section 148 of the Income-tax Act and subsequent reassessment for the assessment year 1973-74 due to insufficient evidence. The valuation report alone was deemed inadequate to prove the assessee's concealment of consideration, emphasizing the Revenue's burden of proof. Additionally, the court clarified that jurisdictional errors by the Income-tax Officer warrant intervention by the writ court, leading to the nullification of the notice and assessment order in this case. Concrete evidence is crucial for reopening assessments, particularly in cases involving property valuation disputes. The appeal was dismissed without costs awarded. Case-Laws Income Tax Fri, 28 May 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20122