https://www.taxtmi.com/caselaws?id=250648 The High Court quashed the reassessment proceedings initiated under Section 147 of the Income Tax Act solely based on audit objections. Emphasizing the necessity of independent assessment by the Assessing Officer, the court ruled that reliance on audit objections without proper consideration renders reassessment unsustainable. The court declared the reassessment invalid, highlighting the importance of adhering to legal principles in tax assessment procedures and setting aside the impugned notice. en-us Wed, 30 Jul 2014 00:00:00 +0530 Fri, 08 May 2015 14:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250648 The High Court quashed the reassessment proceedings initiated under Section 147 of the Income Tax Act solely based on audit objections. Emphasizing the necessity of independent assessment by the Assessing Officer, the court ruled that reliance on audit objections without proper consideration renders reassessment unsustainable. The court declared the reassessment invalid, highlighting the importance of adhering to legal principles in tax assessment procedures and setting aside the impugned notice. Case-Laws Income Tax Wed, 30 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250648