https://www.taxtmi.com/caselaws?id=333525 The Tribunal allowed both appeals, quashing reassessment proceedings for AY 2003-04 and 2004-05 due to the invalid notice under Section 147/148. The Tribunal found the reasons for reopening vague and lacking tangible material, following precedent to invalidate the reassessment. Other grounds, including non-admission of evidence and excessiveness of additions, were not addressed in detail, as the primary focus was on the notice's invalidity. The judgment highlighted the importance of the AO independently applying their mind and providing proper reasons for issuing Section 148 notices. en-us Fri, 07 Oct 2016 00:00:00 +0530 Mon, 17 Oct 2016 09:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333525 The Tribunal allowed both appeals, quashing reassessment proceedings for AY 2003-04 and 2004-05 due to the invalid notice under Section 147/148. The Tribunal found the reasons for reopening vague and lacking tangible material, following precedent to invalidate the reassessment. Other grounds, including non-admission of evidence and excessiveness of additions, were not addressed in detail, as the primary focus was on the notice's invalidity. The judgment highlighted the importance of the AO independently applying their mind and providing proper reasons for issuing Section 148 notices. Case-Laws Income Tax Fri, 07 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333525