PCIT cannot revise Invalid Reassessment Proceedings

M/s. Charbhuja Marmo (India) Pvt. Ltd. Vs PCIT (ITAT Delhi) Invalid Reassessment Proceedings can not be Revised Under Section 263 by PCIT It is well settled Law that since re-assessment proceedings are invalid and bad in law, therefore, such proceedings could not be revised under section 263 of the I.T. Act. It is also well settled Law that validity of the re-assessment proceedings are to be judged on the basis of the reasons recorded for reopening of the assessment. It is also settled Law that while granting sanction under section 151 of the I.T. Act to the reasons and reopening of the assess...