https://www.taxtmi.com/caselaws?id=430488 The appeal, delayed due to the Covid-19 pandemic, was condoned for adjudication. The Tribunal found the reasons for reopening the assessment under section 147 of the Income Tax Act invalid as they did not establish an escapement of income chargeable to tax but were solely to verify a claim. Furthermore, the assessment was reopened after the statutory period without any failure on the assessee's part to disclose material facts. Consequently, the Tribunal quashed the notice and assessment order, ruling in favor of the assessee. en-us Fri, 18 Nov 2022 00:00:00 +0530 Mon, 21 Nov 2022 09:52:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430488 The appeal, delayed due to the Covid-19 pandemic, was condoned for adjudication. The Tribunal found the reasons for reopening the assessment under section 147 of the Income Tax Act invalid as they did not establish an escapement of income chargeable to tax but were solely to verify a claim. Furthermore, the assessment was reopened after the statutory period without any failure on the assessee's part to disclose material facts. Consequently, the Tribunal quashed the notice and assessment order, ruling in favor of the assessee. Case-Laws Income Tax Fri, 18 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430488