https://www.taxtmi.com/caselaws?id=282435 The court found the reasons provided by the Assessing Authority for initiating re-assessment proceedings under Sections 147/148 to be illegal, arbitrary, and indicative of non-application of mind. Consequently, the writ petitions were allowed, and the notices and subsequent orders were quashed. The court emphasized the necessity of a rational and bona fide belief supported by tangible material for commencing such proceedings, ultimately setting aside the re-assessment proceedings. en-us Thu, 08 Sep 2016 00:00:00 +0530 Wed, 07 Aug 2019 18:45:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282435 The court found the reasons provided by the Assessing Authority for initiating re-assessment proceedings under Sections 147/148 to be illegal, arbitrary, and indicative of non-application of mind. Consequently, the writ petitions were allowed, and the notices and subsequent orders were quashed. The court emphasized the necessity of a rational and bona fide belief supported by tangible material for commencing such proceedings, ultimately setting aside the re-assessment proceedings. Case-Laws Income Tax Thu, 08 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282435