https://www.taxtmi.com/caselaws?id=459674 A reopened assessment under the Income-tax Act was found to have been made without properly examining a material property valuation dispute, including the relevant guideline value and the assessee's claim regarding the correct locality. The Madras High Court held that the faceless assessment process did not cure the failure to consider these materials, and that the assessee had to be given an effective opportunity to place supporting records and be heard. The assessment order was quashed, and the matter was sent back for fresh consideration on merits after granting personal hearing and permitting submission of documents. en-us Thu, 11 May 2023 00:00:00 +0530 Sat, 21 Dec 2024 21:24:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459674 A reopened assessment under the Income-tax Act was found to have been made without properly examining a material property valuation dispute, including the relevant guideline value and the assessee's claim regarding the correct locality. The Madras High Court held that the faceless assessment process did not cure the failure to consider these materials, and that the assessee had to be given an effective opportunity to place supporting records and be heard. The assessment order was quashed, and the matter was sent back for fresh consideration on merits after granting personal hearing and permitting submission of documents. Case-Laws Income Tax Thu, 11 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459674