https://www.taxtmi.com/caselaws?id=215260 The Appellate Tribunal quashed the reassessment proceedings initiated under section 148 of the Income Tax Act, citing that the notice was not justifiable due to the availability of the statutory time limit for issuing a notice under section 143(2). The Tribunal upheld the decision of the ld. CIT(A) to restrict the addition made by the Assessing Officer, providing relief to the assessee. The Revenue's appeal challenging the restriction of the addition was dismissed, emphasizing that reassessment proceedings cannot be initiated until the assessment proceedings based on the return already filed are concluded. en-us Fri, 25 May 2012 00:00:00 +0530 Fri, 27 Jul 2012 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215260 The Appellate Tribunal quashed the reassessment proceedings initiated under section 148 of the Income Tax Act, citing that the notice was not justifiable due to the availability of the statutory time limit for issuing a notice under section 143(2). The Tribunal upheld the decision of the ld. CIT(A) to restrict the addition made by the Assessing Officer, providing relief to the assessee. The Revenue's appeal challenging the restriction of the addition was dismissed, emphasizing that reassessment proceedings cannot be initiated until the assessment proceedings based on the return already filed are concluded. Case-Laws Income Tax Fri, 25 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215260