https://www.taxtmi.com/caselaws?id=57911 The Tribunal upheld the Additional Commissioner of Income Tax's decision to cancel reassessments under section 147 for the assessment years 1973-74, 1974-75, and 1975-76. It found that the original assessments, based on ratable value instead of actual rent received, were flawed. The Tribunal emphasized the need to consider legal regulations and principles, concluding that the reassessment was not justified as the assessee had disclosed all relevant facts during the original assessments. The departmental appeals were dismissed, affirming that the reassessments were rightly canceled. en-us Tue, 07 Oct 1980 00:00:00 +0530 Wed, 15 Dec 2010 13:24:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57911 The Tribunal upheld the Additional Commissioner of Income Tax's decision to cancel reassessments under section 147 for the assessment years 1973-74, 1974-75, and 1975-76. It found that the original assessments, based on ratable value instead of actual rent received, were flawed. The Tribunal emphasized the need to consider legal regulations and principles, concluding that the reassessment was not justified as the assessee had disclosed all relevant facts during the original assessments. The departmental appeals were dismissed, affirming that the reassessments were rightly canceled. Case-Laws Income Tax Tue, 07 Oct 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57911