https://www.taxtmi.com/caselaws?id=292959 The tribunal upheld the reopening of the assessment due to valid reasons to believe income had escaped taxation. However, it directed the assessing officer to adopt a fair market value of Rs. 900 per sq. meter for the land, as determined by the CIT(A) in an earlier order, rather than the initially assessed Rs. 2,000 per sq. meter. en-us Tue, 12 Feb 2019 00:00:00 +0530 Fri, 15 Jan 2021 21:04:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292959 The tribunal upheld the reopening of the assessment due to valid reasons to believe income had escaped taxation. However, it directed the assessing officer to adopt a fair market value of Rs. 900 per sq. meter for the land, as determined by the CIT(A) in an earlier order, rather than the initially assessed Rs. 2,000 per sq. meter. Case-Laws Income Tax Tue, 12 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292959