https://www.taxtmi.com/caselaws?id=252690 The tribunal ruled in favor of the assessee, finding the notice issued under section 148 of the Income Tax Act to be invalid and void ab initio as it lacked proper sanction from the Joint Commissioner of Income Tax as required by law. Consequently, the reassessment process, including the addition of Rs. 2,39,088 on Long Term Capital Gains, was deemed invalid. The tribunal emphasized the importance of adhering to statutory requirements for jurisdiction and sanction in reassessment proceedings, ultimately allowing the appeal of the assessee. en-us Fri, 27 Jun 2014 00:00:00 +0530 Sat, 01 Nov 2014 06:25:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252690 The tribunal ruled in favor of the assessee, finding the notice issued under section 148 of the Income Tax Act to be invalid and void ab initio as it lacked proper sanction from the Joint Commissioner of Income Tax as required by law. Consequently, the reassessment process, including the addition of Rs. 2,39,088 on Long Term Capital Gains, was deemed invalid. The tribunal emphasized the importance of adhering to statutory requirements for jurisdiction and sanction in reassessment proceedings, ultimately allowing the appeal of the assessee. Case-Laws Income Tax Fri, 27 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252690