https://www.taxtmi.com/caselaws?id=389697 The court upheld the re-assessment proceedings under Section 148 of the Income Tax Act for Assessment Year 2013-14, despite similarities with an earlier notice for Assessment Year 2011-12. The court deemed the new notice valid, emphasizing that it pertained to a different assessment year and allowed for proceedings based on transactions specific to that year. The Assessing Officer and Commissioner were found to have acted lawfully, leading to the dismissal of the writ petition and stay application. The judgment affirmed the legality of the re-assessment for 2013-14, emphasizing the distinct nature of the transactions under consideration. en-us Mon, 02 Dec 2019 00:00:00 +0530 Sat, 14 Dec 2019 14:32:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389697 The court upheld the re-assessment proceedings under Section 148 of the Income Tax Act for Assessment Year 2013-14, despite similarities with an earlier notice for Assessment Year 2011-12. The court deemed the new notice valid, emphasizing that it pertained to a different assessment year and allowed for proceedings based on transactions specific to that year. The Assessing Officer and Commissioner were found to have acted lawfully, leading to the dismissal of the writ petition and stay application. The judgment affirmed the legality of the re-assessment for 2013-14, emphasizing the distinct nature of the transactions under consideration. Case-Laws Income Tax Mon, 02 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389697