https://www.taxtmi.com/caselaws?id=754124 The Tribunal ruled in favor of the assessee regarding jurisdictional and merits issues concerning the reassessment proceedings for assessment years 2013-14 to 2018-19. The Tribunal granted a stay of recovery for the outstanding demand, subject to the assessee providing an indemnity bond cum undertaking equal to 20% of the total outstanding demand. This stay will remain effective for 180 days from the date of the order or until the appeal is resolved, whichever occurs first. The Tribunal acknowledged the prima facie validity of the assessee's arguments against the application of Section 44BBB and the time-barred reassessment under Section 148A(b). en-us Fri, 24 May 2024 00:00:00 +0530 Tue, 18 Jun 2024 08:29:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754124 The Tribunal ruled in favor of the assessee regarding jurisdictional and merits issues concerning the reassessment proceedings for assessment years 2013-14 to 2018-19. The Tribunal granted a stay of recovery for the outstanding demand, subject to the assessee providing an indemnity bond cum undertaking equal to 20% of the total outstanding demand. This stay will remain effective for 180 days from the date of the order or until the appeal is resolved, whichever occurs first. The Tribunal acknowledged the prima facie validity of the assessee's arguments against the application of Section 44BBB and the time-barred reassessment under Section 148A(b). Case-Laws Income Tax Fri, 24 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754124