https://www.taxtmi.com/caselaws?id=213155 The Court upheld the Tribunal's decision to quash reassessment proceedings, finding that the notice issued under Section 148 of the Income Tax Act after the filing of a revised return under Section 139(5) was not valid. The Court determined that the revised return, filed promptly upon discovering errors in the original return, was accepted and processed by the Department, making it the valid return for assessment purposes. As the income in question had not escaped assessment and the revised return was accepted before reassessment proceedings, the Court dismissed the appeal, affirming the Tribunal's decision. en-us Thu, 05 Apr 2012 00:00:00 +0530 Fri, 11 May 2012 07:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213155 The Court upheld the Tribunal's decision to quash reassessment proceedings, finding that the notice issued under Section 148 of the Income Tax Act after the filing of a revised return under Section 139(5) was not valid. The Court determined that the revised return, filed promptly upon discovering errors in the original return, was accepted and processed by the Department, making it the valid return for assessment purposes. As the income in question had not escaped assessment and the revised return was accepted before reassessment proceedings, the Court dismissed the appeal, affirming the Tribunal's decision. Case-Laws Income Tax Thu, 05 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213155