https://www.taxtmi.com/caselaws?id=298370 The Appellate Tribunal ITAT MUMBAI dismissed the Revenue's appeal challenging the reopening of assessment under section 147 of the Income-tax Act for the Assessment Year 2003-04. The Tribunal upheld the lower authorities' decisions, ruling in favor of the assessee on the disallowance of negative reserve and jurisdictional and merit issues. It concluded that there was no failure in disclosure of material facts during the original assessment, leading to the dismissal of the Revenue's appeal. en-us Fri, 23 Jun 2017 00:00:00 +0530 Fri, 29 Oct 2021 04:26:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298370 The Appellate Tribunal ITAT MUMBAI dismissed the Revenue's appeal challenging the reopening of assessment under section 147 of the Income-tax Act for the Assessment Year 2003-04. The Tribunal upheld the lower authorities' decisions, ruling in favor of the assessee on the disallowance of negative reserve and jurisdictional and merit issues. It concluded that there was no failure in disclosure of material facts during the original assessment, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Fri, 23 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298370