https://www.taxtmi.com/caselaws?id=445542 Reassessment based on the assumption that a superannuation fund approval had already been withdrawn was invalid where the withdrawal order was passed later and did not specify any earlier effective date. Rule 2 of Part B of Schedule IV to the Income-tax Act requires withdrawal of approval to be communicated with the date from which it takes effect. Because the reopening notice did not establish any deemed earlier withdrawal or record a valid factual basis for treating the fund as unapproved on the notice date, the reopening proceeded on a mistaken factual premise. The reassessment notice was quashed and the reassessment order was set aside. en-us Wed, 26 Jul 2023 00:00:00 +0530 Fri, 10 Nov 2023 15:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445542 Reassessment based on the assumption that a superannuation fund approval had already been withdrawn was invalid where the withdrawal order was passed later and did not specify any earlier effective date. Rule 2 of Part B of Schedule IV to the Income-tax Act requires withdrawal of approval to be communicated with the date from which it takes effect. Because the reopening notice did not establish any deemed earlier withdrawal or record a valid factual basis for treating the fund as unapproved on the notice date, the reopening proceeded on a mistaken factual premise. The reassessment notice was quashed and the reassessment order was set aside. Case-Laws Income Tax Wed, 26 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445542