https://www.taxtmi.com/caselaws?id=220833 HC quashed the reassessment under Section 147/148, holding that the AO cannot, in reassessment proceedings, tax a different income not tied to the specific income on which he formed a reason to believe. Because the ground stated in the Section 148 notice was abandoned in the reassessment order, the AO lacked jurisdiction to assess additional income arising from unaccounted capital subsidy impacting slump-sale gains. Relying on settled precedent, the court ruled in favour of the assessee and set aside the reassessment order. en-us Mon, 21 Jan 2013 00:00:00 +0530 Sat, 06 Sep 2025 12:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220833 HC quashed the reassessment under Section 147/148, holding that the AO cannot, in reassessment proceedings, tax a different income not tied to the specific income on which he formed a reason to believe. Because the ground stated in the Section 148 notice was abandoned in the reassessment order, the AO lacked jurisdiction to assess additional income arising from unaccounted capital subsidy impacting slump-sale gains. Relying on settled precedent, the court ruled in favour of the assessee and set aside the reassessment order. Case-Laws Income Tax Mon, 21 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220833