https://www.taxtmi.com/caselaws?id=209402 The ITAT held that the reassessment for the assessment year 1998-99 was invalid due to the absence of a notice under section 148, despite the CIT(A) upholding the AO's action. The ITAT emphasized that section 150 of the IT Act does not confer new assessment powers and that the AO should have followed the procedure under section 147. Consequently, the reassessment order was quashed, and all appeals of the assessee were allowed based on jurisdictional errors in the reassessment process. en-us Fri, 08 Oct 2010 00:00:00 +0530 Mon, 22 Jul 2013 10:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209402 The ITAT held that the reassessment for the assessment year 1998-99 was invalid due to the absence of a notice under section 148, despite the CIT(A) upholding the AO's action. The ITAT emphasized that section 150 of the IT Act does not confer new assessment powers and that the AO should have followed the procedure under section 147. Consequently, the reassessment order was quashed, and all appeals of the assessee were allowed based on jurisdictional errors in the reassessment process. Case-Laws Income Tax Fri, 08 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209402