https://www.taxtmi.com/caselaws?id=391763 The tribunal allowed the appeal, canceling the reassessment proceedings initiated under sections 147/148 and the consequential reassessment order. The tribunal found the reassessment proceedings invalid as the Assessing Officer had not concluded section 154 proceedings before initiating reassessment. This decision rendered moot the grounds raised on merits, including issues related to interest deductions, loss calculations, and rental income computations. The tribunal relied on a precedent from the ITAT Jaipur Bench and issued its decision on 03/02/2020. en-us Mon, 03 Feb 2020 00:00:00 +0530 Thu, 06 Feb 2020 17:58:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391763 The tribunal allowed the appeal, canceling the reassessment proceedings initiated under sections 147/148 and the consequential reassessment order. The tribunal found the reassessment proceedings invalid as the Assessing Officer had not concluded section 154 proceedings before initiating reassessment. This decision rendered moot the grounds raised on merits, including issues related to interest deductions, loss calculations, and rental income computations. The tribunal relied on a precedent from the ITAT Jaipur Bench and issued its decision on 03/02/2020. Case-Laws Income Tax Mon, 03 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391763