https://www.taxtmi.com/caselaws?id=422038 The Court set aside the orders of the Principal Commissioner of Income Tax (PCIT) and the Assessing Officer (AO) in a case challenging the rejection of reassessment under Section 264 of the Income Tax Act for the Assessment Year 2008-09. The Court found that the PCIT failed to address the principal objection raised by the petitioner regarding the reopening of the assessment, leading to the unsustainability of the PCIT's order. Emphasizing procedural fairness, the Court allowed the writ petition with no order as to costs, highlighting the importance of considering taxpayers' objections in reassessment proceedings to uphold legal standards. en-us Mon, 02 May 2022 00:00:00 +0530 Fri, 06 May 2022 23:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422038 The Court set aside the orders of the Principal Commissioner of Income Tax (PCIT) and the Assessing Officer (AO) in a case challenging the rejection of reassessment under Section 264 of the Income Tax Act for the Assessment Year 2008-09. The Court found that the PCIT failed to address the principal objection raised by the petitioner regarding the reopening of the assessment, leading to the unsustainability of the PCIT's order. Emphasizing procedural fairness, the Court allowed the writ petition with no order as to costs, highlighting the importance of considering taxpayers' objections in reassessment proceedings to uphold legal standards. Case-Laws Income Tax Mon, 02 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422038