https://www.taxtmi.com/caselaws?id=760675 The Tribunal dismissed the Revenue's appeal, aligning with the High Court's decision that quashed the assessment due to an invalid sanction under section 151 of the Income-tax Act, 1961. The Tribunal upheld the ld.CIT(A)'s decision, emphasizing the necessity of obtaining the correct sanction for reopening assessments beyond three years, thereby ruling in favor of the assessee. The decision underscores the binding nature of jurisdictional High Court rulings on lower authorities and highlights the importance of procedural compliance in assessment proceedings. en-us Thu, 17 Oct 2024 00:00:00 +0530 Thu, 24 Oct 2024 10:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760675 The Tribunal dismissed the Revenue's appeal, aligning with the High Court's decision that quashed the assessment due to an invalid sanction under section 151 of the Income-tax Act, 1961. The Tribunal upheld the ld.CIT(A)'s decision, emphasizing the necessity of obtaining the correct sanction for reopening assessments beyond three years, thereby ruling in favor of the assessee. The decision underscores the binding nature of jurisdictional High Court rulings on lower authorities and highlights the importance of procedural compliance in assessment proceedings. Case-Laws Income Tax Thu, 17 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760675