https://www.taxtmi.com/caselaws?id=394773 The Revenue's appeal against the quashing of an assessment order under sections 147/148 of the Income Tax Act, 1961 was dismissed by the ITAT. The CIT(A) had annulled the reopening of the assessment due to valuation discrepancies and lack of cooperation with the DVO. The ITAT upheld the CIT(A)'s decision, emphasizing the necessity of tangible evidence and proper reasoning for reassessment. Legal precedents were cited to support the decision, highlighting the importance of adhering to procedural requirements in income tax assessments. en-us Thu, 30 Jan 2020 00:00:00 +0530 Thu, 23 Apr 2020 18:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394773 The Revenue's appeal against the quashing of an assessment order under sections 147/148 of the Income Tax Act, 1961 was dismissed by the ITAT. The CIT(A) had annulled the reopening of the assessment due to valuation discrepancies and lack of cooperation with the DVO. The ITAT upheld the CIT(A)'s decision, emphasizing the necessity of tangible evidence and proper reasoning for reassessment. Legal precedents were cited to support the decision, highlighting the importance of adhering to procedural requirements in income tax assessments. Case-Laws Income Tax Thu, 30 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394773