https://www.taxtmi.com/caselaws?id=447447 The Madras HC set aside a reassessment order under Section 147 for denial of natural justice. The assessing authority passed the order on the last date for exercising reassessment power without supplying reasons pursuant to notice under Section 148, despite the petitioner's request. The court relied on precedent establishing that failure to furnish reasons for reopening upon request vitiates assessment proceedings. Following Supreme Court guidance in GKN Driveshafts case, the court held that non-furnishing of reasons causes serious prejudice and vitiates proceedings, ruling in favor of the assessee. en-us Wed, 08 Nov 2023 00:00:00 +0530 Tue, 26 Dec 2023 08:37:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447447 The Madras HC set aside a reassessment order under Section 147 for denial of natural justice. The assessing authority passed the order on the last date for exercising reassessment power without supplying reasons pursuant to notice under Section 148, despite the petitioner's request. The court relied on precedent establishing that failure to furnish reasons for reopening upon request vitiates assessment proceedings. Following Supreme Court guidance in GKN Driveshafts case, the court held that non-furnishing of reasons causes serious prejudice and vitiates proceedings, ruling in favor of the assessee. Case-Laws Income Tax Wed, 08 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447447