https://www.taxtmi.com/caselaws?id=770248 The SC/HC precedents guided the Tribunal's decision to quash a tax reassessment due to the AO's failure to provide reasons for reopening under section 148(2). Despite the Revenue's allegations of bogus long-term capital gains transactions, the Tribunal invalidated the assessment because the assessee was not supplied the reasons for reopening despite repeated requests. The procedural defect was deemed fatal, resulting in the reassessment order being set aside. en-us Tue, 06 May 2025 00:00:00 +0530 Thu, 08 May 2025 09:13:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770248 The SC/HC precedents guided the Tribunal's decision to quash a tax reassessment due to the AO's failure to provide reasons for reopening under section 148(2). Despite the Revenue's allegations of bogus long-term capital gains transactions, the Tribunal invalidated the assessment because the assessee was not supplied the reasons for reopening despite repeated requests. The procedural defect was deemed fatal, resulting in the reassessment order being set aside. Case-Laws Income Tax Tue, 06 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770248