Case Law Analysis
|Income Tax Appellate Tribunal
Section 147 Income Tax Act | Single Transaction Cannot Sustain Two Reassessment Orders for Same AY : ITAT Mumbai Quashes Second Order
ITAT Mumbai rules that issuing two reassessment orders under Section 147 for the same transaction in a single assessment year is legally impermissible. The second order renders the first infructuous, setting a precedent against procedural duplication in tax reassessment proceedings.