https://www.taxtmi.com/caselaws?id=338021 The Court quashed the reassessment notices for the years 1994-95 and 1995-96 as they were time-barred. For the years 1996-97 and 1997-98, the Court found the reassessment notices invalid due to lack of fresh material, as regular assessments were already completed post search and seizure proceedings. Consequently, all challenged reassessment notices and proceedings were quashed, emphasizing the significance of adhering to statutory limitations and requiring valid grounds supported by tangible material for reopening assessments based on search and seizure actions. en-us Wed, 04 Jan 2017 00:00:00 +0530 Fri, 20 Jan 2017 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338021 The Court quashed the reassessment notices for the years 1994-95 and 1995-96 as they were time-barred. For the years 1996-97 and 1997-98, the Court found the reassessment notices invalid due to lack of fresh material, as regular assessments were already completed post search and seizure proceedings. Consequently, all challenged reassessment notices and proceedings were quashed, emphasizing the significance of adhering to statutory limitations and requiring valid grounds supported by tangible material for reopening assessments based on search and seizure actions. Case-Laws Income Tax Wed, 04 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338021