https://www.taxtmi.com/caselaws?id=427025 The Tribunal dismissed the Revenue's appeal, affirming that the reopening of the assessment under section 147 was void due to lack of new material and the Assessing Officer's unjustified deviation from the consistent position taken by the department in previous years. The Tribunal emphasized the importance of tangible material for reassessment and the need for consistency in tax treatment, ruling that the Explanation 1 to section 147 did not apply as the assessee had fully disclosed all necessary details during the original assessment. en-us Thu, 30 Jun 2022 00:00:00 +0530 Wed, 31 Aug 2022 07:02:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427025 The Tribunal dismissed the Revenue's appeal, affirming that the reopening of the assessment under section 147 was void due to lack of new material and the Assessing Officer's unjustified deviation from the consistent position taken by the department in previous years. The Tribunal emphasized the importance of tangible material for reassessment and the need for consistency in tax treatment, ruling that the Explanation 1 to section 147 did not apply as the assessee had fully disclosed all necessary details during the original assessment. Case-Laws Income Tax Thu, 30 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427025