https://www.taxtmi.com/caselaws?id=283991 The Tribunal quashed the reassessment proceedings as legally unsustainable since the tax liability remained unchanged despite proposed additions. Relying on High Court decisions, it found insufficient material for the Assessing Officer to believe in escaped income assessment, leading to the reassessment's annulment. The appeal was allowed, emphasizing the necessity of evaluating the impact of additions on tax liability before initiating reassessment, ensuring a lawful assessment process. 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=283991 The Tribunal quashed the reassessment proceedings as legally unsustainable since the tax liability remained unchanged despite proposed additions. Relying on High Court decisions, it found insufficient material for the Assessing Officer to believe in escaped income assessment, leading to the reassessment's annulment. The appeal was allowed, emphasizing the necessity of evaluating the impact of additions on tax liability before initiating reassessment, ensuring a lawful assessment process. Case-Laws Income Tax Thu, 14 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283991