https://www.taxtmi.com/caselaws?id=10797 The court held that the Assessing Officer cannot invoke sections 147 and 148 of the Income-tax Act to reopen an assessment when the Commissioner of Income-tax has already set aside the original assessment under section 263 and remanded the matter for reassessment. The court emphasized that during pending reassessment proceedings, the income cannot be considered as having escaped assessment. Additionally, the court found that the assessee had fully and truly disclosed all material facts necessary for determining the claim of depreciation on the "Tin Packaging Unit." Consequently, the court quashed the notice issued by the Assessing Officer under section 148 and ruled in favor of the petitioner. en-us Wed, 31 Mar 2004 00:00:00 +0530 Sat, 25 Jul 2009 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10797 The court held that the Assessing Officer cannot invoke sections 147 and 148 of the Income-tax Act to reopen an assessment when the Commissioner of Income-tax has already set aside the original assessment under section 263 and remanded the matter for reassessment. The court emphasized that during pending reassessment proceedings, the income cannot be considered as having escaped assessment. Additionally, the court found that the assessee had fully and truly disclosed all material facts necessary for determining the claim of depreciation on the "Tin Packaging Unit." Consequently, the court quashed the notice issued by the Assessing Officer under section 148 and ruled in favor of the petitioner. Case-Laws Income Tax Wed, 31 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10797