https://www.taxtmi.com/caselaws?id=59039 The Appellate Tribunal upheld the cancellation of the reassessment order primarily due to the non-compliance with the mandatory provision of recording reasons before issuing a notice for reassessment under s. 148(2) of the IT Act, 1961. The Tribunal emphasized the essential nature of this requirement, citing legal precedents. Additionally, the settlement under the Voluntary Disclosure Scheme, 1975 was considered to cover the disputed amount, contributing to the decision to cancel the reassessment. The appeal was dismissed, highlighting the importance of procedural adherence in reassessment proceedings. en-us Mon, 07 May 1984 00:00:00 +0530 Thu, 23 Dec 2010 16:39:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59039 The Appellate Tribunal upheld the cancellation of the reassessment order primarily due to the non-compliance with the mandatory provision of recording reasons before issuing a notice for reassessment under s. 148(2) of the IT Act, 1961. The Tribunal emphasized the essential nature of this requirement, citing legal precedents. Additionally, the settlement under the Voluntary Disclosure Scheme, 1975 was considered to cover the disputed amount, contributing to the decision to cancel the reassessment. The appeal was dismissed, highlighting the importance of procedural adherence in reassessment proceedings. Case-Laws Income Tax Mon, 07 May 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59039