https://www.taxtmi.com/caselaws?id=302729 The Tribunal dismissed the Revenue's appeals, quashed the assessments for both years, and deleted all additions made therein. This decision was primarily due to the lack of a valid jurisdictional foundation for reopening the assessments under section 147 of the Income Tax Act. The Tribunal found that the Assessing Officer failed to establish that income had escaped assessment due to the assessee's fault, leading to the assessments being deemed beyond the statutory time limit and a change of opinion. en-us Wed, 07 Oct 2015 00:00:00 +0530 Wed, 15 Jun 2022 09:15:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302729 The Tribunal dismissed the Revenue's appeals, quashed the assessments for both years, and deleted all additions made therein. This decision was primarily due to the lack of a valid jurisdictional foundation for reopening the assessments under section 147 of the Income Tax Act. The Tribunal found that the Assessing Officer failed to establish that income had escaped assessment due to the assessee's fault, leading to the assessments being deemed beyond the statutory time limit and a change of opinion. Case-Laws Income Tax Wed, 07 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302729