https://www.taxtmi.com/caselaws?id=387962 The Tribunal held that the reassessment proceedings initiated under Section 147/148 of the Income Tax Act were not justified as they were based on mere suspicion and lacked tangible material. Consequently, the reassessment proceedings and consequential orders for multiple assessment years were set aside. The appeals of the assessee were allowed, rendering the merits of the additions and income treatment as academic. en-us Fri, 01 Nov 2019 00:00:00 +0530 Tue, 05 Nov 2019 15:46:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387962 The Tribunal held that the reassessment proceedings initiated under Section 147/148 of the Income Tax Act were not justified as they were based on mere suspicion and lacked tangible material. Consequently, the reassessment proceedings and consequential orders for multiple assessment years were set aside. The appeals of the assessee were allowed, rendering the merits of the additions and income treatment as academic. Case-Laws Income Tax Fri, 01 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387962