https://www.taxtmi.com/caselaws?id=284607 The Tribunal quashed the reassessment order under section 147 of the Income Tax Act, 1961, due to procedural irregularities in obtaining approval. The approval was deemed ritualistic and lacking proper satisfaction, following the precedent that mere mechanical approval is insufficient. The decision emphasized the necessity of meaningful consideration and valid reasons for approval in reassessment proceedings, highlighting the importance of adhering to prescribed procedures to ensure the legality of such actions. en-us Tue, 16 Apr 2019 00:00:00 +0530 Fri, 29 Nov 2019 10:05:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284607 The Tribunal quashed the reassessment order under section 147 of the Income Tax Act, 1961, due to procedural irregularities in obtaining approval. The approval was deemed ritualistic and lacking proper satisfaction, following the precedent that mere mechanical approval is insufficient. The decision emphasized the necessity of meaningful consideration and valid reasons for approval in reassessment proceedings, highlighting the importance of adhering to prescribed procedures to ensure the legality of such actions. Case-Laws Income Tax Tue, 16 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284607