https://www.taxtmi.com/caselaws?id=395492 The Tribunal upheld the validity of the initiation of proceedings under Sections 147/148 of the Income Tax Act, dismissing the assessee's objections regarding lack of jurisdiction and reasons to believe income had escaped assessment. Additionally, the Tribunal upheld the disallowance of deduction under Section 54F, as the assessee failed to provide evidence supporting the claim of investment in the construction of a residential house. The appeal of the assessee was dismissed, emphasizing the significance of credible material and documentary evidence in tax assessments. en-us Fri, 13 Mar 2020 00:00:00 +0530 Mon, 25 May 2020 10:57:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395492 The Tribunal upheld the validity of the initiation of proceedings under Sections 147/148 of the Income Tax Act, dismissing the assessee's objections regarding lack of jurisdiction and reasons to believe income had escaped assessment. Additionally, the Tribunal upheld the disallowance of deduction under Section 54F, as the assessee failed to provide evidence supporting the claim of investment in the construction of a residential house. The appeal of the assessee was dismissed, emphasizing the significance of credible material and documentary evidence in tax assessments. Case-Laws Income Tax Fri, 13 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395492