https://www.taxtmi.com/caselaws?id=304228 The Tribunal allowed the appeal, remanding the case to the assessing officer for further examination. It emphasized that changing the status under section 143(1) is impermissible and directed a reevaluation of the excess income tax payable at normal rates. Criticizing the lack of notice and opportunity for explanation, the Tribunal stressed the importance of principles of natural justice. It faulted the CIT(A) for disregarding judicial guidelines and not considering past records, urging consistency in tax assessments. Concerns were raised about the determination of excess income tax beyond the statutory time limit, prompting a review to ensure compliance. en-us Wed, 13 Jul 2022 00:00:00 +0530 Tue, 13 Sep 2022 20:21:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304228 The Tribunal allowed the appeal, remanding the case to the assessing officer for further examination. It emphasized that changing the status under section 143(1) is impermissible and directed a reevaluation of the excess income tax payable at normal rates. Criticizing the lack of notice and opportunity for explanation, the Tribunal stressed the importance of principles of natural justice. It faulted the CIT(A) for disregarding judicial guidelines and not considering past records, urging consistency in tax assessments. Concerns were raised about the determination of excess income tax beyond the statutory time limit, prompting a review to ensure compliance. Case-Laws Income Tax Wed, 13 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304228