https://www.taxtmi.com/caselaws?id=10159 The court held that the reassessment notices issued under section 148 of the Income-tax Act for the assessment years 1995-96, 1996-97, and 1997-98 were invalid. The notices were based on an earlier interpretation of section 80P, which was subsequently overruled by the Supreme Court. As the legal foundation for the reassessment notices had disappeared, the court concluded that they lacked jurisdiction and quashed them, ruling in favor of the petitioner, a regional rural bank. en-us Tue, 23 Nov 2004 00:00:00 +0530 Thu, 09 Jul 2009 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10159 The court held that the reassessment notices issued under section 148 of the Income-tax Act for the assessment years 1995-96, 1996-97, and 1997-98 were invalid. The notices were based on an earlier interpretation of section 80P, which was subsequently overruled by the Supreme Court. As the legal foundation for the reassessment notices had disappeared, the court concluded that they lacked jurisdiction and quashed them, ruling in favor of the petitioner, a regional rural bank. Case-Laws Income Tax Tue, 23 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10159