https://www.taxtmi.com/caselaws?id=280456 The Appellate Tribunal ITAT Kolkata allowed the appeal of the assessee, holding that the reassessment u/s. 147 of the Income-tax Act was unjustified due to discrepancies between the reasons for initiation and the actual disallowances made. Emphasizing the necessity for jurisdiction to reassess issues, the Tribunal ruled that reassessment on new issues was impermissible once the reasons for initiation ceased to exist. The appeal was allowed solely on the jurisdictional issue, making further adjudication on merits unnecessary. en-us Fri, 15 Mar 2013 00:00:00 +0530 Wed, 18 Dec 2019 18:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280456 The Appellate Tribunal ITAT Kolkata allowed the appeal of the assessee, holding that the reassessment u/s. 147 of the Income-tax Act was unjustified due to discrepancies between the reasons for initiation and the actual disallowances made. Emphasizing the necessity for jurisdiction to reassess issues, the Tribunal ruled that reassessment on new issues was impermissible once the reasons for initiation ceased to exist. The appeal was allowed solely on the jurisdictional issue, making further adjudication on merits unnecessary. Case-Laws Income Tax Fri, 15 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280456