https://www.taxtmi.com/caselaws?id=419215 The court ruled in favor of the petitioner, emphasizing the importance of following the GKN principle in tax assessments under the Income Tax Act. The Assessing Officer was directed to consider objections before issuing a draft assessment order, ensuring procedural fairness and compliance with legal requirements. The judgment highlighted the necessity of providing reasons for notices, allowing objections, and passing a speaking order in re-assessment cases. The court's decision underscored the significance of adhering to established legal principles to uphold transparency and fairness in tax assessments. en-us Thu, 03 Feb 2022 00:00:00 +0530 Fri, 04 Mar 2022 13:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419215 The court ruled in favor of the petitioner, emphasizing the importance of following the GKN principle in tax assessments under the Income Tax Act. The Assessing Officer was directed to consider objections before issuing a draft assessment order, ensuring procedural fairness and compliance with legal requirements. The judgment highlighted the necessity of providing reasons for notices, allowing objections, and passing a speaking order in re-assessment cases. The court's decision underscored the significance of adhering to established legal principles to uphold transparency and fairness in tax assessments. Case-Laws Income Tax Thu, 03 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419215