https://www.taxtmi.com/caselaws?id=762621 Gujarat HC quashed reassessment proceedings initiated under Section 148 based solely on audit objection. Court held AO lacked jurisdiction as audit objection contradicted established facts, particularly when department had previously accepted assessee's depreciation claims on goodwill. Despite amended provisions allowing audit objections as information for reopening, AO cannot mechanically issue notices without considering case facts and assessee's reply under Section 148A(b). Order under Section 148A(d) unsustainable due to non-application of mind by AO who ignored assessee's response. Appeal allowed. en-us Tue, 15 Oct 2024 00:00:00 +0530 Mon, 11 May 2026 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762621 Gujarat HC quashed reassessment proceedings initiated under Section 148 based solely on audit objection. Court held AO lacked jurisdiction as audit objection contradicted established facts, particularly when department had previously accepted assessee's depreciation claims on goodwill. Despite amended provisions allowing audit objections as information for reopening, AO cannot mechanically issue notices without considering case facts and assessee's reply under Section 148A(b). Order under Section 148A(d) unsustainable due to non-application of mind by AO who ignored assessee's response. Appeal allowed. Case-Laws Income Tax Tue, 15 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762621