https://www.taxtmi.com/caselaws?id=61164 The Tribunal upheld the cancellation of the reassessment order initiated by the Income Tax Officer under sections 143(3) and 148 of the IT Act, 1961. The Assistant Commissioner of Income Tax had canceled the assessment, including minor sons' profit share in the assessee's income. The Tribunal found that the reassessment was based on an audit objection and not a valid reason for reopening the assessment under section 147(b). The appeal was dismissed, confirming the cancellation of the reassessment order. en-us Tue, 13 Apr 1982 00:00:00 +0530 Tue, 11 Jan 2011 11:46:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61164 The Tribunal upheld the cancellation of the reassessment order initiated by the Income Tax Officer under sections 143(3) and 148 of the IT Act, 1961. The Assistant Commissioner of Income Tax had canceled the assessment, including minor sons' profit share in the assessee's income. The Tribunal found that the reassessment was based on an audit objection and not a valid reason for reopening the assessment under section 147(b). The appeal was dismissed, confirming the cancellation of the reassessment order. Case-Laws Income Tax Tue, 13 Apr 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61164