https://www.taxtmi.com/caselaws?id=431585 The Supreme Court allowed the appeals in favor of the assessee, quashing the High Court's judgment. It reinstated the ITAT's order, emphasizing procedural correctness and prohibiting parallel proceedings under different sections of the Income Tax Act. The Court highlighted the necessity of withdrawal orders and proper legal reasoning in tax assessment matters, overturning the High Court's erroneous presumption of invalidity based on limitation and ruling against the permissibility of initiating Section 147/148 proceedings during the pendency of Section 154 proceedings. en-us Wed, 07 Dec 2022 00:00:00 +0530 Sat, 21 Mar 2026 13:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431585 The Supreme Court allowed the appeals in favor of the assessee, quashing the High Court's judgment. It reinstated the ITAT's order, emphasizing procedural correctness and prohibiting parallel proceedings under different sections of the Income Tax Act. The Court highlighted the necessity of withdrawal orders and proper legal reasoning in tax assessment matters, overturning the High Court's erroneous presumption of invalidity based on limitation and ruling against the permissibility of initiating Section 147/148 proceedings during the pendency of Section 154 proceedings. Case-Laws Income Tax Wed, 07 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431585