https://www.taxtmi.com/caselaws?id=388753 The Appellate Tribunal ITAT DELHI allowed the assessee's appeal, quashing the assessment order. The Tribunal held that the reasons recorded by the Assessing Officer were insufficient to justify reopening the assessment proceedings under section 147 of the Income-tax Act, 1961. Emphasizing the importance of concrete reasons indicating income escaping assessment, the Tribunal annulled the notice issued under section 148 of the Act. Consequently, the Tribunal did not assess the merits of the case, leading to the appeal being allowed in favor of the assessee. en-us Tue, 19 Nov 2019 00:00:00 +0530 Fri, 22 Nov 2019 10:00:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388753 The Appellate Tribunal ITAT DELHI allowed the assessee's appeal, quashing the assessment order. The Tribunal held that the reasons recorded by the Assessing Officer were insufficient to justify reopening the assessment proceedings under section 147 of the Income-tax Act, 1961. Emphasizing the importance of concrete reasons indicating income escaping assessment, the Tribunal annulled the notice issued under section 148 of the Act. Consequently, the Tribunal did not assess the merits of the case, leading to the appeal being allowed in favor of the assessee. Case-Laws Income Tax Tue, 19 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388753