https://www.taxtmi.com/caselaws?id=13420 The HC allowed the writ petitions, quashing the initiation of reassessment proceedings under Section 147 of the Income-tax Act, 1961, due to the Assessing Officer's failure to finalize the original assessment. The court found the notice under Section 148 invalid as it lacked new information or material, deeming the reassessment proceedings beyond the jurisdiction of the Assessing Officer. The court emphasized procedural irregularities and maintained its authority under Article 226/227 of the Constitution. The petitioner was awarded costs of Rs. 25,000, payable within six weeks. en-us Fri, 12 Jan 2007 00:00:00 +0530 Wed, 07 Feb 2024 18:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13420 The HC allowed the writ petitions, quashing the initiation of reassessment proceedings under Section 147 of the Income-tax Act, 1961, due to the Assessing Officer's failure to finalize the original assessment. The court found the notice under Section 148 invalid as it lacked new information or material, deeming the reassessment proceedings beyond the jurisdiction of the Assessing Officer. The court emphasized procedural irregularities and maintained its authority under Article 226/227 of the Constitution. The petitioner was awarded costs of Rs. 25,000, payable within six weeks. Case-Laws Income Tax Fri, 12 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13420