https://www.taxtmi.com/caselaws?id=28536 The Tribunal annulled the reassessment proceedings for the assessment years 1959-60, 1961-62, and 1962-63, initiated under section 147(a) of the Income-tax Act, 1961. The Tribunal found that the reasons for reopening the assessments were based on suspicion rather than concrete materials, contrary to the requirements of section 147(a). The High Court upheld the Tribunal's decision, concluding that the reassessments were not validly initiated and were therefore annulled. en-us Tue, 25 May 1982 00:00:00 +0530 Tue, 23 Feb 2010 15:10:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28536 The Tribunal annulled the reassessment proceedings for the assessment years 1959-60, 1961-62, and 1962-63, initiated under section 147(a) of the Income-tax Act, 1961. The Tribunal found that the reasons for reopening the assessments were based on suspicion rather than concrete materials, contrary to the requirements of section 147(a). The High Court upheld the Tribunal's decision, concluding that the reassessments were not validly initiated and were therefore annulled. Case-Laws Income Tax Tue, 25 May 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28536