https://www.taxtmi.com/caselaws?id=26874 The Tribunal found that the reopening of assessment under section 147(a) of the Income-tax Act lacked sufficient grounds and evidence, leading to the dismissal of the application. The court reiterated that mere suspicion is insufficient to cancel a previous assessment and emphasized the need for substantial evidence to support such actions. The judgment underscores the significance of adhering to legal procedures and presenting concrete facts in assessment processes to uphold fairness and justice under the Income-tax Act, 1961. en-us Fri, 01 Feb 1985 00:00:00 +0530 Tue, 09 Feb 2010 10:49:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26874 The Tribunal found that the reopening of assessment under section 147(a) of the Income-tax Act lacked sufficient grounds and evidence, leading to the dismissal of the application. The court reiterated that mere suspicion is insufficient to cancel a previous assessment and emphasized the need for substantial evidence to support such actions. The judgment underscores the significance of adhering to legal procedures and presenting concrete facts in assessment processes to uphold fairness and justice under the Income-tax Act, 1961. Case-Laws Income Tax Fri, 01 Feb 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26874