https://www.taxtmi.com/caselaws?id=262702 The court held that the reassessment proceedings were invalid as they were solely initiated based on an audit objection without an independent opinion by the Assessing Officer. The notice for reassessment under Section 148 of the Income Tax Act for the relevant assessment year was quashed, and the proceedings were set aside. The court emphasized the impermissibility of reassessment solely on audit objections without independent verification. The petition was allowed, and no costs were awarded. en-us Thu, 30 Apr 2015 00:00:00 +0530 Tue, 18 Aug 2015 06:48:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262702 The court held that the reassessment proceedings were invalid as they were solely initiated based on an audit objection without an independent opinion by the Assessing Officer. The notice for reassessment under Section 148 of the Income Tax Act for the relevant assessment year was quashed, and the proceedings were set aside. The court emphasized the impermissibility of reassessment solely on audit objections without independent verification. The petition was allowed, and no costs were awarded. Case-Laws Income Tax Thu, 30 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262702