https://www.taxtmi.com/caselaws?id=249644 The Tribunal invalidated the reassessment proceedings and notice under Section 148, as the Assessing Officer (AO) lacked jurisdiction due to incorrect reasons and reliance on retracted statements. Protective assessment without substantive assessment was deemed impermissible, following precedents. The AO's actions were found to be illegal and without proper grounds, leading to the dismissal of subsequent proceedings. The assessee's appeal succeeded on legal grounds, while other merits were not considered due to the invalidity of the proceedings. en-us Fri, 27 Jun 2014 00:00:00 +0530 Sat, 19 Jul 2014 08:40:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249644 The Tribunal invalidated the reassessment proceedings and notice under Section 148, as the Assessing Officer (AO) lacked jurisdiction due to incorrect reasons and reliance on retracted statements. Protective assessment without substantive assessment was deemed impermissible, following precedents. The AO's actions were found to be illegal and without proper grounds, leading to the dismissal of subsequent proceedings. The assessee's appeal succeeded on legal grounds, while other merits were not considered due to the invalidity of the proceedings. Case-Laws Income Tax Fri, 27 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249644