https://www.taxtmi.com/caselaws?id=55013 The Tribunal held that the Assessing Officer was not justified in reopening the assessments under Section 148 as the belief of escaped income was based on a misunderstanding of different accounting periods and unverified higher sales figures assessed by the Sales Tax Department. The reassessment proceedings were quashed, and the assessee's appeals were allowed. The Revenue's appeals against the deletions made by the CIT(A) were dismissed as infructuous. en-us Tue, 21 Aug 2001 00:00:00 +0530 Mon, 22 Nov 2010 13:55:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55013 The Tribunal held that the Assessing Officer was not justified in reopening the assessments under Section 148 as the belief of escaped income was based on a misunderstanding of different accounting periods and unverified higher sales figures assessed by the Sales Tax Department. The reassessment proceedings were quashed, and the assessee's appeals were allowed. The Revenue's appeals against the deletions made by the CIT(A) were dismissed as infructuous. Case-Laws Income Tax Tue, 21 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55013