https://www.taxtmi.com/caselaws?id=420377 The court granted interim relief to the petitioner in a case concerning the validity of a notice under Section 148 of the Income Tax Act served after a four-year lapse for the assessment year 2014-15. The court found flaws in the reasons to believe for re-assessment, emphasizing the lack of specific details regarding the alleged paper shell company and the vague approval process under Section 151. Consequently, the court stayed the proceedings against the petitioner until the next hearing date, highlighting the significance of thorough assessments and proper approvals in income tax proceedings for fairness and accuracy. en-us Mon, 28 Mar 2022 00:00:00 +0530 Fri, 01 Apr 2022 08:34:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420377 The court granted interim relief to the petitioner in a case concerning the validity of a notice under Section 148 of the Income Tax Act served after a four-year lapse for the assessment year 2014-15. The court found flaws in the reasons to believe for re-assessment, emphasizing the lack of specific details regarding the alleged paper shell company and the vague approval process under Section 151. Consequently, the court stayed the proceedings against the petitioner until the next hearing date, highlighting the significance of thorough assessments and proper approvals in income tax proceedings for fairness and accuracy. Case-Laws Income Tax Mon, 28 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420377