https://www.taxtmi.com/caselaws?id=306858 The Tribunal quashed the reassessment proceedings initiated by the AO under Section 147 as the reasons recorded did not show any failure by the assessee to disclose material facts. Relying on Delhi High Court decisions, the Tribunal held the reassessment invalid due to the absence of specific allegations of non-disclosure. Consequently, the reassessment proceedings were quashed, and the appeal favored the assessee, resulting in the addition of undisclosed income being disallowed. en-us Wed, 06 Apr 2022 00:00:00 +0530 Thu, 02 Mar 2023 20:59:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306858 The Tribunal quashed the reassessment proceedings initiated by the AO under Section 147 as the reasons recorded did not show any failure by the assessee to disclose material facts. Relying on Delhi High Court decisions, the Tribunal held the reassessment invalid due to the absence of specific allegations of non-disclosure. Consequently, the reassessment proceedings were quashed, and the appeal favored the assessee, resulting in the addition of undisclosed income being disallowed. Case-Laws Income Tax Wed, 06 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306858