https://www.taxtmi.com/caselaws?id=30760 The court upheld the Tribunal's decision to quash reassessment proceedings for assessment years 1995-96, 1996-97, and 1998-99, initiated solely based on the Departmental Valuation Officer's report. The court found the reassessment invalid ab initio due to a lack of valid basis for forming reasons to believe, highlighting defects in the DVO's report. Emphasizing the importance of supporting material and jurisdictional requirements, the court dismissed the appeals, reinforcing the necessity of a valid basis for reassessment under section 147/148. en-us Fri, 25 May 2007 00:00:00 +0530 Mon, 22 Sep 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=30760 The court upheld the Tribunal's decision to quash reassessment proceedings for assessment years 1995-96, 1996-97, and 1998-99, initiated solely based on the Departmental Valuation Officer's report. The court found the reassessment invalid ab initio due to a lack of valid basis for forming reasons to believe, highlighting defects in the DVO's report. Emphasizing the importance of supporting material and jurisdictional requirements, the court dismissed the appeals, reinforcing the necessity of a valid basis for reassessment under section 147/148. Case-Laws Income Tax Fri, 25 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=30760