https://www.taxtmi.com/caselaws?id=300264 The Court remanded the assessment order back to the respondent for reconsideration due to non-consideration of supporting materials and lack of reasoning. The Court emphasized the need for the respondent to thoroughly review the affidavits and documents submitted by the petitioner and provide detailed reasons for accepting or rejecting the explanations. The impugned order was set aside solely for reassessment purposes, with the respondent directed to issue a fresh assessment order within four weeks, considering the petitioner's submissions. The Court did not express any opinion on the case's merits, and no costs were imposed on the parties. en-us Mon, 25 Oct 2021 00:00:00 +0530 Thu, 20 Jan 2022 08:24:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300264 The Court remanded the assessment order back to the respondent for reconsideration due to non-consideration of supporting materials and lack of reasoning. The Court emphasized the need for the respondent to thoroughly review the affidavits and documents submitted by the petitioner and provide detailed reasons for accepting or rejecting the explanations. The impugned order was set aside solely for reassessment purposes, with the respondent directed to issue a fresh assessment order within four weeks, considering the petitioner's submissions. The Court did not express any opinion on the case's merits, and no costs were imposed on the parties. Case-Laws Income Tax Mon, 25 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300264