https://www.taxtmi.com/caselaws?id=61157 The Tribunal upheld the AAC's decision to cancel the re-assessment made by the ITO for the assessment year 1969-70. The Tribunal found that the re-assessment lacked proper justification and new grounds, aligning with judicial precedents cited by the assessee. It emphasized the necessity of a genuine belief and proper assessment before initiating re-assessment proceedings, ultimately affirming the cancellation of the re-assessment. en-us Tue, 10 Mar 1981 00:00:00 +0530 Tue, 11 Jan 2011 11:31:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61157 The Tribunal upheld the AAC's decision to cancel the re-assessment made by the ITO for the assessment year 1969-70. The Tribunal found that the re-assessment lacked proper justification and new grounds, aligning with judicial precedents cited by the assessee. It emphasized the necessity of a genuine belief and proper assessment before initiating re-assessment proceedings, ultimately affirming the cancellation of the re-assessment. Case-Laws Income Tax Tue, 10 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61157