https://www.taxtmi.com/caselaws?id=339297 The Tribunal allowed the assessee's appeals for Assessment Years 2004-05 and 2006-07, declaring the re-assessment orders invalid due to procedural lapses in re-opening the assessments under sections 147 and 148 of the Income Tax Act, 1961. The re-opening was deemed beyond the time limit and lacked proper sanction from the competent authority, rendering it unlawful. Additionally, the absence of specific approval from the Joint Commissioner as required by section 151 further invalidated the re-assessment. The Tribunal emphasized adherence to statutory compliance and the necessity of new material to justify re-opening assessments in income tax proceedings. en-us Fri, 10 Feb 2017 00:00:00 +0530 Fri, 24 Feb 2017 11:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339297 The Tribunal allowed the assessee's appeals for Assessment Years 2004-05 and 2006-07, declaring the re-assessment orders invalid due to procedural lapses in re-opening the assessments under sections 147 and 148 of the Income Tax Act, 1961. The re-opening was deemed beyond the time limit and lacked proper sanction from the competent authority, rendering it unlawful. Additionally, the absence of specific approval from the Joint Commissioner as required by section 151 further invalidated the re-assessment. The Tribunal emphasized adherence to statutory compliance and the necessity of new material to justify re-opening assessments in income tax proceedings. Case-Laws Income Tax Fri, 10 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339297