https://www.taxtmi.com/caselaws?id=417410 The Tribunal ruled that the Commissioner of Income-tax (Appeals) had exceeded his jurisdiction by directing the Assessing Officer to initiate reassessment proceedings under sections 147/148 read with section 150 of the Income Tax Act. The Tribunal emphasized that the power to initiate reassessment should be based on the Assessing Officer's independent belief that income has escaped assessment, and the appellate authority cannot extend statutory time limits through unauthorized directions. The Tribunal set aside the directions, highlighting the importance of adherence to statutory powers and established legal precedents. en-us Fri, 26 Nov 2021 00:00:00 +0530 Fri, 21 Jan 2022 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417410 The Tribunal ruled that the Commissioner of Income-tax (Appeals) had exceeded his jurisdiction by directing the Assessing Officer to initiate reassessment proceedings under sections 147/148 read with section 150 of the Income Tax Act. The Tribunal emphasized that the power to initiate reassessment should be based on the Assessing Officer's independent belief that income has escaped assessment, and the appellate authority cannot extend statutory time limits through unauthorized directions. The Tribunal set aside the directions, highlighting the importance of adherence to statutory powers and established legal precedents. Case-Laws Income Tax Fri, 26 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417410