https://www.taxtmi.com/caselaws?id=312943 The Tribunal allowed the Assessee's appeal, determining that both the initiation of proceedings and the assessment under Section 147 of the Income Tax Act, 1961, were unjustified and without jurisdiction. It emphasized that the Assessing Officer must have valid reasons to believe that income has escaped assessment, which were lacking in this case. en-us Mon, 31 Oct 2011 00:00:00 +0530 Fri, 15 Mar 2024 15:27:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312943 The Tribunal allowed the Assessee's appeal, determining that both the initiation of proceedings and the assessment under Section 147 of the Income Tax Act, 1961, were unjustified and without jurisdiction. It emphasized that the Assessing Officer must have valid reasons to believe that income has escaped assessment, which were lacking in this case. Case-Laws Income Tax Mon, 31 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312943