https://www.taxtmi.com/caselaws?id=428153 The court upheld the validity of reassessment proceedings under Section 148 of the Income Tax Act, finding that the reasons disclosed new and tangible material justifying the reassessment. It determined that the reassessment did not constitute a review of the original assessment and that the assessing officer had the requisite authority and followed procedural requirements. The court dismissed the writ petitions, directing the assessing officer to proceed with the reassessment while allowing the petitioners to present arguments and defenses, except challenging jurisdiction. The reassessment proceedings were to be completed within sixteen weeks. en-us Fri, 09 Sep 2022 00:00:00 +0530 Mon, 16 Jan 2023 17:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428153 The court upheld the validity of reassessment proceedings under Section 148 of the Income Tax Act, finding that the reasons disclosed new and tangible material justifying the reassessment. It determined that the reassessment did not constitute a review of the original assessment and that the assessing officer had the requisite authority and followed procedural requirements. The court dismissed the writ petitions, directing the assessing officer to proceed with the reassessment while allowing the petitioners to present arguments and defenses, except challenging jurisdiction. The reassessment proceedings were to be completed within sixteen weeks. Case-Laws Income Tax Fri, 09 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428153