https://www.taxtmi.com/caselaws?id=334055 The Delhi High Court ruled in favor of the petitioner, quashing the reassessment notice and subsequent proceedings for the assessment year 1997-98. The court found the reasons provided for re-opening the assessment lacked tangible material and did not comply with Supreme Court rulings, leading to the invalidation of the reassessment notice. The judgment emphasized the importance of objective material, adherence to legal precedents, and accurate reasoning in reassessment proceedings under Sections 147-148 of the Income Tax Act. en-us Wed, 05 Oct 2016 00:00:00 +0530 Thu, 02 Feb 2017 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334055 The Delhi High Court ruled in favor of the petitioner, quashing the reassessment notice and subsequent proceedings for the assessment year 1997-98. The court found the reasons provided for re-opening the assessment lacked tangible material and did not comply with Supreme Court rulings, leading to the invalidation of the reassessment notice. The judgment emphasized the importance of objective material, adherence to legal precedents, and accurate reasoning in reassessment proceedings under Sections 147-148 of the Income Tax Act. Case-Laws Income Tax Wed, 05 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334055