https://www.taxtmi.com/caselaws?id=416492 The Tribunal quashed the notice issued under Section 148 of the Income Tax Act, 1961, and the consequent assessment order. The Tribunal held that as rectification proceedings were initiated but not concluded, reassessment proceedings for identical reasons were deemed invalid. Therefore, the reassessment based on the notice under Section 148 was considered improper, leading to the quashing of the assessment. The appeal of the assessee was allowed, and the assessment was annulled on 24.12.2021. en-us Fri, 24 Dec 2021 00:00:00 +0530 Thu, 03 Mar 2022 17:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416492 The Tribunal quashed the notice issued under Section 148 of the Income Tax Act, 1961, and the consequent assessment order. The Tribunal held that as rectification proceedings were initiated but not concluded, reassessment proceedings for identical reasons were deemed invalid. Therefore, the reassessment based on the notice under Section 148 was considered improper, leading to the quashing of the assessment. The appeal of the assessee was allowed, and the assessment was annulled on 24.12.2021. Case-Laws Income Tax Fri, 24 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416492