https://www.taxtmi.com/caselaws?id=441746 The Court quashes the assessment order under Section 143(3) of the Income Tax Act, 1961, directing the reassessment within six weeks. The petitioner is allowed to operate his bank account with M/s Kotak Mahindra Bank, subject to maintaining a minimum balance. Additionally, the petitioner is permitted to operate three accounts with the bank, maintaining a cumulative balance of Rs. 75,00,000 across all accounts as stipulated. en-us Thu, 09 Mar 2023 00:00:00 +0530 Wed, 16 Aug 2023 08:16:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441746 The Court quashes the assessment order under Section 143(3) of the Income Tax Act, 1961, directing the reassessment within six weeks. The petitioner is allowed to operate his bank account with M/s Kotak Mahindra Bank, subject to maintaining a minimum balance. Additionally, the petitioner is permitted to operate three accounts with the bank, maintaining a cumulative balance of Rs. 75,00,000 across all accounts as stipulated. Case-Laws Income Tax Thu, 09 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441746