https://www.taxtmi.com/caselaws?id=383357 The Court dismissed the Tax Appeal, affirming the ITAT's decision to quash the assessment under Section 143(3) read with Section 147. The Court emphasized that Sections 142(1) and 148 cannot operate simultaneously, and income cannot be said to have escaped assessment when assessment proceedings are pending. The judgment highlighted the importance of following the correct legal procedures to ensure the integrity of the assessment process and safeguard revenue collection. en-us Mon, 15 Jul 2019 00:00:00 +0530 Tue, 21 Jul 2020 15:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383357 The Court dismissed the Tax Appeal, affirming the ITAT's decision to quash the assessment under Section 143(3) read with Section 147. The Court emphasized that Sections 142(1) and 148 cannot operate simultaneously, and income cannot be said to have escaped assessment when assessment proceedings are pending. The judgment highlighted the importance of following the correct legal procedures to ensure the integrity of the assessment process and safeguard revenue collection. Case-Laws Income Tax Mon, 15 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383357