https://www.taxtmi.com/caselaws?id=361125 The Tribunal concluded that the reassessment proceedings were barred by limitation and quashed the reassessment order. The Tribunal emphasized that the AO's power to reopen an assessment is limited by the time constraints set forth in sections 149 and 150(2). Consequently, the appeal of the assessee was allowed, and the reassessment was deemed void ab initio. The Tribunal did not address the other grounds raised by the assessee due to the quashing of the reassessment proceedings. en-us Wed, 23 May 2018 00:00:00 +0530 Thu, 25 Jul 2019 17:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361125 The Tribunal concluded that the reassessment proceedings were barred by limitation and quashed the reassessment order. The Tribunal emphasized that the AO's power to reopen an assessment is limited by the time constraints set forth in sections 149 and 150(2). Consequently, the appeal of the assessee was allowed, and the reassessment was deemed void ab initio. The Tribunal did not address the other grounds raised by the assessee due to the quashing of the reassessment proceedings. Case-Laws Income Tax Wed, 23 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361125