https://www.taxtmi.com/caselaws?id=9469 The court ruled in favor of the assessee regarding the validity of the assessment order, emphasizing the mandatory requirement of recording reasons for initiating reassessment proceedings. However, the court sided with the Revenue on the applicability of the amendments to sections 139(8), 215, and 217 to assessments of earlier years and the classification of the assessment as a regular assessment under the Income-tax Act, 1961. The court did not award any costs in this case. en-us Tue, 10 May 2005 00:00:00 +0530 Tue, 23 Jun 2009 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9469 The court ruled in favor of the assessee regarding the validity of the assessment order, emphasizing the mandatory requirement of recording reasons for initiating reassessment proceedings. However, the court sided with the Revenue on the applicability of the amendments to sections 139(8), 215, and 217 to assessments of earlier years and the classification of the assessment as a regular assessment under the Income-tax Act, 1961. The court did not award any costs in this case. Case-Laws Income Tax Tue, 10 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9469