https://www.taxtmi.com/caselaws?id=333817 The Tribunal allowed the Assessee's appeal on the grounds of procedural irregularities in jurisdictional aspects and incorrect application of statutory provisions. The AO's failure to provide reasons for initiating proceedings under section 147/148 rendered the reopening unsustainable, leading to the quashing of orders by lower authorities. Additionally, the Tribunal held that section 292BB was not retrospective for the relevant assessment year, resulting in the Assessee's appeal being allowed without further examination of merits. en-us Fri, 02 Sep 2016 00:00:00 +0530 Tue, 25 Oct 2016 16:58:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333817 The Tribunal allowed the Assessee's appeal on the grounds of procedural irregularities in jurisdictional aspects and incorrect application of statutory provisions. The AO's failure to provide reasons for initiating proceedings under section 147/148 rendered the reopening unsustainable, leading to the quashing of orders by lower authorities. Additionally, the Tribunal held that section 292BB was not retrospective for the relevant assessment year, resulting in the Assessee's appeal being allowed without further examination of merits. Case-Laws Income Tax Fri, 02 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333817