https://www.taxtmi.com/caselaws?id=237693 The Tax Appeal challenging the order of the Income Tax Appellate Tribunal on the reopening of assessment proceedings under Section 147 of the Income-tax Act, 1961 was dismissed. The Court upheld the decisions of the CIT [A] and the Tribunal, ruling in favor of the assessee. It was found that the assessment had been reopened beyond the permissible four-year period solely due to a retrospective amendment, which was not admissible under the Income Tax Act. The judgment highlighted the significance of complying with legal provisions and precedent in assessing the validity of reopening assessment proceedings. en-us Wed, 06 Mar 2013 00:00:00 +0530 Fri, 04 Oct 2013 23:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237693 The Tax Appeal challenging the order of the Income Tax Appellate Tribunal on the reopening of assessment proceedings under Section 147 of the Income-tax Act, 1961 was dismissed. The Court upheld the decisions of the CIT [A] and the Tribunal, ruling in favor of the assessee. It was found that the assessment had been reopened beyond the permissible four-year period solely due to a retrospective amendment, which was not admissible under the Income Tax Act. The judgment highlighted the significance of complying with legal provisions and precedent in assessing the validity of reopening assessment proceedings. Case-Laws Income Tax Wed, 06 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237693