https://www.taxtmi.com/caselaws?id=359490 The Tribunal allowed the appeal challenging the validity of reopening under section 147 and notice under section 148 of the Income Tax Act. The case emphasized the necessity for the Assessing Officer to thoroughly address objections raised by the assessee, citing legal precedents. The failure to do so resulted in the reassessment being quashed, despite the addition of deemed dividend under section 2(22)(e) being upheld. Procedural irregularities were crucial in the Tribunal's decision, emphasizing the importance of compliance and comprehensive response to objections in reassessment proceedings. en-us Thu, 26 Apr 2018 00:00:00 +0530 Tue, 01 May 2018 06:24:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359490 The Tribunal allowed the appeal challenging the validity of reopening under section 147 and notice under section 148 of the Income Tax Act. The case emphasized the necessity for the Assessing Officer to thoroughly address objections raised by the assessee, citing legal precedents. The failure to do so resulted in the reassessment being quashed, despite the addition of deemed dividend under section 2(22)(e) being upheld. Procedural irregularities were crucial in the Tribunal's decision, emphasizing the importance of compliance and comprehensive response to objections in reassessment proceedings. Case-Laws Income Tax Thu, 26 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359490