https://www.taxtmi.com/caselaws?id=32072 HC held that reassessment under Sections 143(3) read with 147 was invalid where the Assessing Officer's original reason to believe that particular income had escaped assessment was not borne out in re-assessment proceedings. The court ruled the AO could not, merely because other taxable income was later discovered during those proceedings, exercise s.147 jurisdiction to assess different income than that specified in the original reason to believe. Following precedent, the HC answered the issues against the Revenue and in favour of the assessee. en-us Thu, 21 Aug 2008 00:00:00 +0530 Tue, 04 Nov 2025 14:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32072 HC held that reassessment under Sections 143(3) read with 147 was invalid where the Assessing Officer's original reason to believe that particular income had escaped assessment was not borne out in re-assessment proceedings. The court ruled the AO could not, merely because other taxable income was later discovered during those proceedings, exercise s.147 jurisdiction to assess different income than that specified in the original reason to believe. Following precedent, the HC answered the issues against the Revenue and in favour of the assessee. Case-Laws Income Tax Thu, 21 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32072