https://www.taxtmi.com/caselaws?id=297284 The court ruled in favor of the assessee, emphasizing the importance of adhering to statutory timelines for initiating re-assessment proceedings. The decision aligned with previous judgments, including one by the Hon'ble Madras High Court, stating that re-assessment cannot be initiated under section 147 when the time for issuing notice under section 143(2) has not expired. The appeal was allowed based on established legal principles and precedents, with the court upholding the Tribunal's decision that no action can be taken under section 147 when the return is pending before the Assessing Officer. en-us Fri, 05 Sep 2014 00:00:00 +0530 Thu, 26 Aug 2021 08:47:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297284 The court ruled in favor of the assessee, emphasizing the importance of adhering to statutory timelines for initiating re-assessment proceedings. The decision aligned with previous judgments, including one by the Hon'ble Madras High Court, stating that re-assessment cannot be initiated under section 147 when the time for issuing notice under section 143(2) has not expired. The appeal was allowed based on established legal principles and precedents, with the court upholding the Tribunal's decision that no action can be taken under section 147 when the return is pending before the Assessing Officer. Case-Laws Income Tax Fri, 05 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297284