https://www.taxtmi.com/caselaws?id=333146 The Court upheld the Tribunal's decision, emphasizing the importance of providing reasons to the assessee for a fair assessment process. The judgment highlighted the significance of supplying reasons for reopening notices and how the failure to do so renders subsequent assessment orders invalid. The Court dismissed the appeal based on the invalidity of the reopening notice, declining to address the issue of depreciation on leased assets. The decision underscores the interdependence of procedural requirements in tax assessments and the need for transparency in reassessment proceedings. en-us Mon, 19 Sep 2016 00:00:00 +0530 Wed, 05 Oct 2016 14:47:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333146 The Court upheld the Tribunal's decision, emphasizing the importance of providing reasons to the assessee for a fair assessment process. The judgment highlighted the significance of supplying reasons for reopening notices and how the failure to do so renders subsequent assessment orders invalid. The Court dismissed the appeal based on the invalidity of the reopening notice, declining to address the issue of depreciation on leased assets. The decision underscores the interdependence of procedural requirements in tax assessments and the need for transparency in reassessment proceedings. Case-Laws Income Tax Mon, 19 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333146