https://www.taxtmi.com/caselaws?id=432281 The Tribunal allowed the appeal of the assessee, emphasizing the necessity of establishing a valid reason to believe that income had escaped assessment for the reopening of assessment under section 147 of the Income Tax Act, 1961. The Tribunal found that the AO failed to clearly establish income escapement and quashed the reopening of the assessment order. en-us Wed, 21 Dec 2022 00:00:00 +0530 Sat, 31 Dec 2022 13:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432281 The Tribunal allowed the appeal of the assessee, emphasizing the necessity of establishing a valid reason to believe that income had escaped assessment for the reopening of assessment under section 147 of the Income Tax Act, 1961. The Tribunal found that the AO failed to clearly establish income escapement and quashed the reopening of the assessment order. Case-Laws Income Tax Wed, 21 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432281