https://www.taxtmi.com/caselaws?id=284172 The High Court upheld the Tribunal's decision in dismissing the Revenue's appeal challenging reassessment proceedings under Sections 147/148 of the Income Tax Act, 1961. The Court emphasized that reassessment based on a binding decision overlooked during the original assessment was impermissible, citing the Supreme Court's ruling in CIT v. Kelvinator of India Ltd. The Court reiterated that revisiting issues already addressed during scrutiny assessments was not authorized by law, ultimately affirming the legality of the reassessment proceedings and underscoring the significance of adhering to legal precedents. en-us Fri, 01 Feb 2019 00:00:00 +0530 Tue, 05 Nov 2019 09:45:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284172 The High Court upheld the Tribunal's decision in dismissing the Revenue's appeal challenging reassessment proceedings under Sections 147/148 of the Income Tax Act, 1961. The Court emphasized that reassessment based on a binding decision overlooked during the original assessment was impermissible, citing the Supreme Court's ruling in CIT v. Kelvinator of India Ltd. The Court reiterated that revisiting issues already addressed during scrutiny assessments was not authorized by law, ultimately affirming the legality of the reassessment proceedings and underscoring the significance of adhering to legal precedents. Case-Laws Income Tax Fri, 01 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284172