https://www.taxtmi.com/caselaws?id=356159 The High Court directed the ITAT to decide on the stay application expeditiously, preventing coercive actions until then. The Tribunal quashed the reassessment proceedings initiated by the Assessing Officer, emphasizing the importance of clear and justifiable reasons for reopening assessments. The Tribunal admitted additional legal grounds submitted by the assessee, citing legal principles that pivotal issues should be addressed even if raised later. Judicial pronouncements supported the assessee's argument against reassessment, emphasizing the necessity of valid reasons. The Tribunal upheld the appeal, deeming other raised issues as academic due to the quashing of reassessment proceedings. en-us Tue, 16 Jan 2018 00:00:00 +0530 Mon, 26 Feb 2018 08:29:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356159 The High Court directed the ITAT to decide on the stay application expeditiously, preventing coercive actions until then. The Tribunal quashed the reassessment proceedings initiated by the Assessing Officer, emphasizing the importance of clear and justifiable reasons for reopening assessments. The Tribunal admitted additional legal grounds submitted by the assessee, citing legal principles that pivotal issues should be addressed even if raised later. Judicial pronouncements supported the assessee's argument against reassessment, emphasizing the necessity of valid reasons. The Tribunal upheld the appeal, deeming other raised issues as academic due to the quashing of reassessment proceedings. Case-Laws Income Tax Tue, 16 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356159