https://www.taxtmi.com/caselaws?id=405354 The Tribunal quashed the reassessment proceedings due to various reasons, including the failure to provide reasons recorded under Section 148, non-compliance with legal requirements under Sections 147 and 148, lack of application of mind by the Assessing Officer, invalid satisfaction recorded by the Principal Commissioner of Income Tax, and issuance of notice beyond the prescribed time limit. The decision emphasizes the significance of procedural adherence and diligence in reassessment processes. en-us Wed, 17 Mar 2021 00:00:00 +0530 Wed, 24 Nov 2021 14:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405354 The Tribunal quashed the reassessment proceedings due to various reasons, including the failure to provide reasons recorded under Section 148, non-compliance with legal requirements under Sections 147 and 148, lack of application of mind by the Assessing Officer, invalid satisfaction recorded by the Principal Commissioner of Income Tax, and issuance of notice beyond the prescribed time limit. The decision emphasizes the significance of procedural adherence and diligence in reassessment processes. Case-Laws Income Tax Wed, 17 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405354