https://www.taxtmi.com/caselaws?id=328769 The ITAT partially allowed the Revenue's appeal, holding that the initiation of proceedings under section 147 was not sustainable in law. The ITAT directed the AO to restore the income figure determined in the original assessment order, emphasizing that the AO cannot modify the income figure based on the same set of facts. Additionally, the ITAT found that the AO's decision to reopen the assessment and modify the income figure was not legally sound. The ITAT also noted that issues adjudicated by the CIT(A) that did not arise from the reassessment order could not be upheld. en-us Wed, 13 Apr 2016 00:00:00 +0530 Tue, 14 Jun 2016 12:56:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328769 The ITAT partially allowed the Revenue's appeal, holding that the initiation of proceedings under section 147 was not sustainable in law. The ITAT directed the AO to restore the income figure determined in the original assessment order, emphasizing that the AO cannot modify the income figure based on the same set of facts. Additionally, the ITAT found that the AO's decision to reopen the assessment and modify the income figure was not legally sound. The ITAT also noted that issues adjudicated by the CIT(A) that did not arise from the reassessment order could not be upheld. Case-Laws Income Tax Wed, 13 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328769