https://www.taxtmi.com/caselaws?id=403078 The appeal was allowed in the case challenging the assessment of income higher than the returned income, as the reassessment proceedings were found to be vitiated due to the failure to provide reasons for reassessment. The Tribunal emphasized the necessity of furnishing reasons within a reasonable time, citing the GKN Driveshafts case. The assessee's additional grounds were admitted, aligning with the broad powers of the Appellate Tribunal to consider legal questions arising from the facts. The decision underscored the importance of procedural fairness and adherence to legal standards in tax assessments. en-us Tue, 22 Dec 2020 00:00:00 +0530 Tue, 19 Jan 2021 10:21:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403078 The appeal was allowed in the case challenging the assessment of income higher than the returned income, as the reassessment proceedings were found to be vitiated due to the failure to provide reasons for reassessment. The Tribunal emphasized the necessity of furnishing reasons within a reasonable time, citing the GKN Driveshafts case. The assessee's additional grounds were admitted, aligning with the broad powers of the Appellate Tribunal to consider legal questions arising from the facts. The decision underscored the importance of procedural fairness and adherence to legal standards in tax assessments. Case-Laws Income Tax Tue, 22 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403078