https://www.taxtmi.com/caselaws?id=38919 The High Court ruled that the reassessment proceedings under section 147(a) of the Income-tax Act were not valid and justified. The court found that the primary facts necessary for assessment were disclosed by the assessee, and the Income-tax Officer failed to draw the necessary inferences during the original assessments. Therefore, the reassessment was deemed unjustified as the conditions under section 147(a) were not met. The court decided in favor of the assessee, directing the Commissioner to bear the costs of the reference. en-us Wed, 24 Mar 1976 00:00:00 +0530 Sat, 10 Apr 2010 13:25:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38919 The High Court ruled that the reassessment proceedings under section 147(a) of the Income-tax Act were not valid and justified. The court found that the primary facts necessary for assessment were disclosed by the assessee, and the Income-tax Officer failed to draw the necessary inferences during the original assessments. Therefore, the reassessment was deemed unjustified as the conditions under section 147(a) were not met. The court decided in favor of the assessee, directing the Commissioner to bear the costs of the reference. Case-Laws Income Tax Wed, 24 Mar 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38919