https://www.taxtmi.com/caselaws?id=344842 The Tribunal allowed the appeal, declaring the notice issued under section 148 and all subsequent proceedings null and void ab initio due to failure to meet statutory requirements. The Tribunal reversed the CIT(A)'s order, holding the reassessment proceedings invalid, as the reasons recorded did not indicate income escaping assessment of Rs. 1 lakh or more. The appeal was allowed in favor of the assessee, and the taxability of agricultural lands as short-term capital gains was not adjudicated due to the invalid initiation of proceedings. en-us Tue, 28 Feb 2017 00:00:00 +0530 Thu, 29 Jun 2017 12:52:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344842 The Tribunal allowed the appeal, declaring the notice issued under section 148 and all subsequent proceedings null and void ab initio due to failure to meet statutory requirements. The Tribunal reversed the CIT(A)'s order, holding the reassessment proceedings invalid, as the reasons recorded did not indicate income escaping assessment of Rs. 1 lakh or more. The appeal was allowed in favor of the assessee, and the taxability of agricultural lands as short-term capital gains was not adjudicated due to the invalid initiation of proceedings. Case-Laws Income Tax Tue, 28 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344842