https://www.taxtmi.com/caselaws?id=283992 The Tribunal quashed the reassessment proceedings for the assessment year 2009-10 under section 143(3) r.w.s. 147, deeming them legally unsustainable due to insufficient material for income escaping assessment. The reassessment was found to be based on conjectures and surmises without concrete reasons, leading to its invalidation. Consequently, the reassessment was deemed vitiated in law and was quashed. Other issues, such as the disallowance of purchases amounting to Rs. 30,93,170, were considered academic in light of this decision and did not require specific adjudication. en-us Thu, 14 Mar 2019 00:00:00 +0530 Wed, 23 Oct 2019 07:54:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283992 The Tribunal quashed the reassessment proceedings for the assessment year 2009-10 under section 143(3) r.w.s. 147, deeming them legally unsustainable due to insufficient material for income escaping assessment. The reassessment was found to be based on conjectures and surmises without concrete reasons, leading to its invalidation. Consequently, the reassessment was deemed vitiated in law and was quashed. Other issues, such as the disallowance of purchases amounting to Rs. 30,93,170, were considered academic in light of this decision and did not require specific adjudication. Case-Laws Income Tax Thu, 14 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283992