https://www.taxtmi.com/caselaws?id=304803 The Tribunal invalidated the reassessment proceedings under section 147 of the Income Tax Act, emphasizing the insufficiency of suspicion alone to justify reopening assessments. Concrete evidence and adherence to legal procedures were deemed essential, leading to the quashing of the reassessment order. The decision partially favored the assessee, highlighting the importance of substantiated reasons in such proceedings. en-us Thu, 19 Mar 2020 00:00:00 +0530 Thu, 27 Oct 2022 17:59:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304803 The Tribunal invalidated the reassessment proceedings under section 147 of the Income Tax Act, emphasizing the insufficiency of suspicion alone to justify reopening assessments. Concrete evidence and adherence to legal procedures were deemed essential, leading to the quashing of the reassessment order. The decision partially favored the assessee, highlighting the importance of substantiated reasons in such proceedings. Case-Laws Income Tax Thu, 19 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304803