https://www.taxtmi.com/caselaws?id=406607 The Appellate Tribunal allowed the assessee's appeal and dismissed the revenue's appeal, declaring the reopening of assessment for the Asst Year 2007-08 void abinitio. The Tribunal found the reopening beyond the prescribed period and lacking mention of failure to disclose material facts, in violation of the proviso to section 147 of the Income Tax Act. The decision emphasized the importance of clear, evidence-based reasons for reopening assessments, preventing arbitrary actions by tax authorities and upholding the assessee's rights. en-us Tue, 30 Mar 2021 00:00:00 +0530 Mon, 19 Apr 2021 20:33:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406607 The Appellate Tribunal allowed the assessee's appeal and dismissed the revenue's appeal, declaring the reopening of assessment for the Asst Year 2007-08 void abinitio. The Tribunal found the reopening beyond the prescribed period and lacking mention of failure to disclose material facts, in violation of the proviso to section 147 of the Income Tax Act. The decision emphasized the importance of clear, evidence-based reasons for reopening assessments, preventing arbitrary actions by tax authorities and upholding the assessee's rights. Case-Laws Income Tax Tue, 30 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406607