The reassessment proceedings may be initiated on one ground but the reassessment may be done on any other grounds too

ITAT, Mumbai ACIT vs Mahalaxmi Chemical Works IT Appeal Nos. 2258 to 2260 and 2436 to 2438 (Mum.) of 2003 17 February 2006 ORDER Per Bench 1. These are the appeals filed by assessee as well as Revenue against the order of the Learned CIT(A). 2. The Revenue in its appeals in ITA Nos. 2258, 2259 and 2260/Mum./2003 for assessment years 1995-96, 1996-97 and 1998-99, has raised the following grounds : Grounds of appeal in ITA No. 2258/Mum./2003 (i) On the facts and in the circumstances of the case and in law, the learned Commissioner of Income-tax (Appeals) has erred in directing t...