https://www.taxtmi.com/caselaws?id=353457 The High Court upheld the ITAT's decision to annul the assessment proceedings, emphasizing the importance of recording reasons for issuing the notice under Section 148 of the Income Tax Act, 1961. The belated filing of the Assessing Officer's affidavit and the timing of recording and signing the reasons were crucial factors in the court's decision. Despite the appellant-revenue's arguments, the High Court concluded that the signing of reasons on 31st March, 2010, was necessary for compliance with Subsection (2) of Section 148, ultimately dismissing the appeal. en-us Mon, 04 Dec 2017 00:00:00 +0530 Thu, 04 Jan 2018 09:23:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353457 The High Court upheld the ITAT's decision to annul the assessment proceedings, emphasizing the importance of recording reasons for issuing the notice under Section 148 of the Income Tax Act, 1961. The belated filing of the Assessing Officer's affidavit and the timing of recording and signing the reasons were crucial factors in the court's decision. Despite the appellant-revenue's arguments, the High Court concluded that the signing of reasons on 31st March, 2010, was necessary for compliance with Subsection (2) of Section 148, ultimately dismissing the appeal. Case-Laws Income Tax Mon, 04 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353457