https://www.taxtmi.com/caselaws?id=422040 The court allowed the petition challenging the assessment order under Section 147 of the Income Tax Act, 1961, due to discrepancies in the depreciation claim, jurisdictional errors, and inaccuracies in the assessment order. The assessment order and demand notice were quashed, and the case was remanded for a fresh assessment. The court emphasized the need for caution in faceless assessments, highlighting accountability and directing authorities to prevent errors in future assessments. The PCIT and CBDT were instructed to exercise more vigilance in passing assessment orders to avoid similar mistakes. en-us Wed, 04 May 2022 00:00:00 +0530 Sat, 07 May 2022 06:35:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422040 The court allowed the petition challenging the assessment order under Section 147 of the Income Tax Act, 1961, due to discrepancies in the depreciation claim, jurisdictional errors, and inaccuracies in the assessment order. The assessment order and demand notice were quashed, and the case was remanded for a fresh assessment. The court emphasized the need for caution in faceless assessments, highlighting accountability and directing authorities to prevent errors in future assessments. The PCIT and CBDT were instructed to exercise more vigilance in passing assessment orders to avoid similar mistakes. Case-Laws Income Tax Wed, 04 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422040