https://www.taxtmi.com/caselaws?id=60880 The Tribunal upheld the validity of the proceedings initiated under section 147(b) in the case concerning a valuation report discrepancy for the assessment year 1980-81. It dismissed the assessee's appeal, endorsing the CIT(A)'s decision to remand the matter for a fresh appraisal by the Assessing Officer due to the non-confrontation of the valuation report to the assessee. The judgment emphasized the importance of procedural compliance, objective justification, and factual distinctions in reopening assessments based on external information, highlighting the significance of a fair and transparent assessment process. en-us Tue, 09 Nov 1993 00:00:00 +0530 Sat, 08 Jan 2011 14:12:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60880 The Tribunal upheld the validity of the proceedings initiated under section 147(b) in the case concerning a valuation report discrepancy for the assessment year 1980-81. It dismissed the assessee's appeal, endorsing the CIT(A)'s decision to remand the matter for a fresh appraisal by the Assessing Officer due to the non-confrontation of the valuation report to the assessee. The judgment emphasized the importance of procedural compliance, objective justification, and factual distinctions in reopening assessments based on external information, highlighting the significance of a fair and transparent assessment process. Case-Laws Income Tax Tue, 09 Nov 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60880