https://www.taxtmi.com/caselaws?id=389997 The Tribunal found the re-assessment proceedings initiated by the Assessing Officer under section 147/148 of the Income Tax Act to be bad in law due to reasons lacking material basis. The Tribunal concluded that the reasons for re-opening the assessment were either non-existent or unsupported by evidence. Consequently, the assessment order was quashed, and the appeal of the assessee was allowed, leading to the cancellation of the re-assessment order passed by the Assessing Officer. en-us Fri, 22 Nov 2019 00:00:00 +0530 Sat, 21 Dec 2019 10:03:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389997 The Tribunal found the re-assessment proceedings initiated by the Assessing Officer under section 147/148 of the Income Tax Act to be bad in law due to reasons lacking material basis. The Tribunal concluded that the reasons for re-opening the assessment were either non-existent or unsupported by evidence. Consequently, the assessment order was quashed, and the appeal of the assessee was allowed, leading to the cancellation of the re-assessment order passed by the Assessing Officer. Case-Laws Income Tax Fri, 22 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389997