https://www.taxtmi.com/caselaws?id=194617 The High Court upheld the Tribunal's decision to quash the assessment order for assessment years 2003-2004 and 2004-2005, emphasizing that the initiation of proceedings under Section 147 was improper due to the lack of legal grounds. The court highlighted the necessity of meeting specific criteria, such as alleging escapement of assessment, to justify reopening assessments beyond the prescribed time limits. Consequently, the appeal was dismissed, and no costs were awarded, with any related pending petitions also being dismissed. en-us Wed, 25 Jun 2014 00:00:00 +0530 Fri, 15 Sep 2017 21:34:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194617 The High Court upheld the Tribunal's decision to quash the assessment order for assessment years 2003-2004 and 2004-2005, emphasizing that the initiation of proceedings under Section 147 was improper due to the lack of legal grounds. The court highlighted the necessity of meeting specific criteria, such as alleging escapement of assessment, to justify reopening assessments beyond the prescribed time limits. Consequently, the appeal was dismissed, and no costs were awarded, with any related pending petitions also being dismissed. Case-Laws Income Tax Wed, 25 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194617