https://www.taxtmi.com/caselaws?id=57009 The tribunal upheld the validity of reassessment proceedings under section 147 initiated by the Assessing Officer, dismissing all appeals of the appellant. The tribunal emphasized the broadened scope for reopening assessments under the amended provisions of section 147, effective from 1-4-1989, allowing for reassessment based on a reasonable belief of income escaping assessment without the previous stringent conditions. The reassessment was deemed legal, and assessments were within the timeframe specified under the Income-tax Act, 1961. en-us Mon, 08 May 2000 00:00:00 +0530 Tue, 07 Dec 2010 18:08:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57009 The tribunal upheld the validity of reassessment proceedings under section 147 initiated by the Assessing Officer, dismissing all appeals of the appellant. The tribunal emphasized the broadened scope for reopening assessments under the amended provisions of section 147, effective from 1-4-1989, allowing for reassessment based on a reasonable belief of income escaping assessment without the previous stringent conditions. The reassessment was deemed legal, and assessments were within the timeframe specified under the Income-tax Act, 1961. Case-Laws Income Tax Mon, 08 May 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57009