https://www.taxtmi.com/caselaws?id=438415 The Tribunal ruled in favor of the assessee, quashing the reassessment order and subsequent proceedings. It held that the Assessing Officer did not comply with the prescribed conditions and procedures under Section 147, lacked valid approval under Section 151, and based the reassessment on borrowed satisfaction without proper application of mind. The Tribunal found the approval process to be ritualistic and lacking genuine consideration, leading to the unsustainable notice issuance. The judgment, delivered by Shri Chandra Mohan Garg, allowed the appeal in part solely on legal grounds, without delving into the case's merits. en-us Fri, 26 May 2023 00:00:00 +0530 Tue, 30 May 2023 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438415 The Tribunal ruled in favor of the assessee, quashing the reassessment order and subsequent proceedings. It held that the Assessing Officer did not comply with the prescribed conditions and procedures under Section 147, lacked valid approval under Section 151, and based the reassessment on borrowed satisfaction without proper application of mind. The Tribunal found the approval process to be ritualistic and lacking genuine consideration, leading to the unsustainable notice issuance. The judgment, delivered by Shri Chandra Mohan Garg, allowed the appeal in part solely on legal grounds, without delving into the case's merits. Case-Laws Income Tax Fri, 26 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438415