https://www.taxtmi.com/caselaws?id=340549 The Tribunal allowed the appeal of the assessee, quashing the reassessment proceedings initiated under Section 148. The Tribunal found that the Assessing Officer had not independently verified the information from the Investigation Wing before reopening the assessment, contravening the requirements of Section 147. The jurisdictional High Court's decision in Signature Hotels Pvt. Ltd. Vs ITO was cited in support of this conclusion. Consequently, the assessment based on the notices issued under Section 147 read with Section 148 was invalidated. en-us Tue, 14 Feb 2017 00:00:00 +0530 Thu, 23 Mar 2017 09:09:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340549 The Tribunal allowed the appeal of the assessee, quashing the reassessment proceedings initiated under Section 148. The Tribunal found that the Assessing Officer had not independently verified the information from the Investigation Wing before reopening the assessment, contravening the requirements of Section 147. The jurisdictional High Court's decision in Signature Hotels Pvt. Ltd. Vs ITO was cited in support of this conclusion. Consequently, the assessment based on the notices issued under Section 147 read with Section 148 was invalidated. Case-Laws Income Tax Tue, 14 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340549