https://www.taxtmi.com/caselaws?id=344855 The court found the writ petition challenging the show cause notice under Sections 147 and 148 of the Income Tax Act maintainable. It invalidated the reassessment proceedings initiated solely based on the Assistant Valuation Officer's report, emphasizing the necessity of independent assessment. The court also criticized the lack of a reasoned order disposing of preliminary objections and directed the Assessing Officer to consider Section 263 for correcting erroneous assessments instead of resorting to reassessment under Section 147. Consequently, the court quashed all impugned proceedings and awarded costs to the petitioner. en-us Mon, 19 Jun 2017 00:00:00 +0530 Tue, 26 Sep 2017 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344855 The court found the writ petition challenging the show cause notice under Sections 147 and 148 of the Income Tax Act maintainable. It invalidated the reassessment proceedings initiated solely based on the Assistant Valuation Officer's report, emphasizing the necessity of independent assessment. The court also criticized the lack of a reasoned order disposing of preliminary objections and directed the Assessing Officer to consider Section 263 for correcting erroneous assessments instead of resorting to reassessment under Section 147. Consequently, the court quashed all impugned proceedings and awarded costs to the petitioner. Case-Laws Income Tax Mon, 19 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344855