https://www.taxtmi.com/caselaws?id=56655 The Appellate Tribunal allowed the appeal filed by the assessee, annulling the reassessment order. The Tribunal emphasized the mandatory requirement of recording proper reasons under section 148(2) before initiating reassessment proceedings. It found the reasons recorded in the notice insufficient, indicating a lack of application of mind by the reassessing officer. The reassessment was deemed invalid and quashed, underscoring the importance of complying with legal procedures in tax assessments. en-us Tue, 27 Apr 1982 00:00:00 +0530 Mon, 06 Dec 2010 11:23:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56655 The Appellate Tribunal allowed the appeal filed by the assessee, annulling the reassessment order. The Tribunal emphasized the mandatory requirement of recording proper reasons under section 148(2) before initiating reassessment proceedings. It found the reasons recorded in the notice insufficient, indicating a lack of application of mind by the reassessing officer. The reassessment was deemed invalid and quashed, underscoring the importance of complying with legal procedures in tax assessments. Case-Laws Income Tax Tue, 27 Apr 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56655