The ITAT ruled that dual reassessment orders for the same assessment year, transaction, and addition are impermissible. The first reassessment order was deemed legally unsustainable, invalidating the proceeding.
AO’s Own Penalty Order Sinks Reassessment: ITAT Holds First Section 147 Order ‘Infructuous’
The ITAT ruled that dual reassessment orders for the same assessment year, transaction, and addition are impermissible. The first reassessment order was deemed legally unsustainable, invalidating the proceeding.
Citations
- Income Tax Appellate Tribunal (2026)
Source:taxguru.in