https://www.taxtmi.com/caselaws?id=411578 The ITAT allowed the appeal, emphasizing the necessity of proper verification and application of mind by the assessing officer before initiating reassessment proceedings. The judgment stressed adherence to statutory requirements and ensuring the validity of reasons before issuing notices under Section 148 of the Income Tax Act. The decision highlighted the importance of upholding procedural safeguards and jurisdictional prerequisites for reassessment proceedings to maintain the integrity and legality of tax assessments. The reassessment proceedings under Section 147 were quashed, and the tax demand was deleted. en-us Mon, 16 Aug 2021 00:00:00 +0530 Sat, 28 Aug 2021 09:21:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411578 The ITAT allowed the appeal, emphasizing the necessity of proper verification and application of mind by the assessing officer before initiating reassessment proceedings. The judgment stressed adherence to statutory requirements and ensuring the validity of reasons before issuing notices under Section 148 of the Income Tax Act. The decision highlighted the importance of upholding procedural safeguards and jurisdictional prerequisites for reassessment proceedings to maintain the integrity and legality of tax assessments. The reassessment proceedings under Section 147 were quashed, and the tax demand was deleted. Case-Laws Income Tax Mon, 16 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411578