https://www.taxtmi.com/caselaws?id=393812 The tribunal found the reassessment proceedings initiated by the Assessing Officer under sections 147 and 151 of the Income Tax Act, 1961 to be invalid due to procedural irregularities. The approval granted by the Pr. Commissioner of Income Tax-7, New Delhi was deemed mechanical and lacking proper scrutiny, leading to the quashing of the reassessment. The tribunal upheld the appellant's argument supported by relevant case laws, emphasizing the necessity for a detailed consideration before granting approval for reassessment. Consequently, the reassessment proceedings were declared unlawful, and the appeal was partially allowed in favor of the appellant. en-us Thu, 19 Mar 2020 00:00:00 +0530 Mon, 23 Mar 2020 12:35:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393812 The tribunal found the reassessment proceedings initiated by the Assessing Officer under sections 147 and 151 of the Income Tax Act, 1961 to be invalid due to procedural irregularities. The approval granted by the Pr. Commissioner of Income Tax-7, New Delhi was deemed mechanical and lacking proper scrutiny, leading to the quashing of the reassessment. The tribunal upheld the appellant's argument supported by relevant case laws, emphasizing the necessity for a detailed consideration before granting approval for reassessment. Consequently, the reassessment proceedings were declared unlawful, and the appeal was partially allowed in favor of the appellant. Case-Laws Income Tax Thu, 19 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393812