https://www.taxtmi.com/caselaws?id=423301 The Tribunal upheld the validity of the reassessment proceedings under Section 148, citing tangible material and non-compliance by the assessee. Despite inconsistencies in explanations and lack of corroborative evidence, the Tribunal granted the assessee another chance to substantiate claims before the CIT(A). The appeal was allowed partly for statistical purposes, with directions for a reconsideration on the merits after affording the assessee a fair opportunity to present evidence. en-us Tue, 26 Apr 2022 00:00:00 +0530 Mon, 06 Jun 2022 13:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423301 The Tribunal upheld the validity of the reassessment proceedings under Section 148, citing tangible material and non-compliance by the assessee. Despite inconsistencies in explanations and lack of corroborative evidence, the Tribunal granted the assessee another chance to substantiate claims before the CIT(A). The appeal was allowed partly for statistical purposes, with directions for a reconsideration on the merits after affording the assessee a fair opportunity to present evidence. Case-Laws Income Tax Tue, 26 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423301