https://www.taxtmi.com/highlights?id=80426 Validity of reassessment proceedings questioned due to non-filing of responses against notices issued, as old email ID was inaccessible. Court held petitioner deserves fair chance to address grievances regarding reopening of assessment u/s 147 r.w.s.144B of Income Tax Act for partnership firm that closed business. Petitioner must establish if huge deposits were accounted for. Impugned assessment orders quashed, case remitted to pass fresh orders. Petitioner directed to pay Rs. 25,00,000/- each for respective assessment years and file reply to Section 148A(b) notices within 4 months. en-us Wed, 14 Aug 2024 08:33:50 +0530 Wed, 14 Aug 2024 08:33:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=80426 Validity of reassessment proceedings questioned due to non-filing of responses against notices issued, as old email ID was inaccessible. Court held petitioner deserves fair chance to address grievances regarding reopening of assessment u/s 147 r.w.s.144B of Income Tax Act for partnership firm that closed business. Petitioner must establish if huge deposits were accounted for. Impugned assessment orders quashed, case remitted to pass fresh orders. Petitioner directed to pay Rs. 25,00,000/- each for respective assessment years and file reply to Section 148A(b) notices within 4 months. Highlights Income Tax Wed, 14 Aug 2024 08:33:50 +0530 https://www.taxtmi.com/highlights?id=80426