https://www.taxtmi.com/caselaws?id=456956 ITAT Bangalore held that a second notice under section 148 issued without withdrawing the first notice is invalid as law does not recognize parallel assessments. Following Marwadi Shares Finance Ltd., the tribunal ruled that when the second reassessment notice was issued on 31.03.2015 during the pendency of the first notice, it rendered the subsequent proceedings void ab-initio. The assessment framed pursuant to the invalid second notice was declared void, and the assessee's appeal was allowed. en-us Fri, 19 Jul 2019 00:00:00 +0530 Wed, 28 Aug 2024 19:33:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456956 ITAT Bangalore held that a second notice under section 148 issued without withdrawing the first notice is invalid as law does not recognize parallel assessments. Following Marwadi Shares Finance Ltd., the tribunal ruled that when the second reassessment notice was issued on 31.03.2015 during the pendency of the first notice, it rendered the subsequent proceedings void ab-initio. The assessment framed pursuant to the invalid second notice was declared void, and the assessee's appeal was allowed. Case-Laws Income Tax Fri, 19 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456956