AO Cannot Initiate Reassessment Proceedings During Pending Rectification Proceedings: ITAT

The Income Tax Appellate Tribunal (ITAT) ruled that an Assessing Officer (AO) cannot initiate reassessment proceedings while rectification proceedings are pending. This decision underscores the importance of procedural integrity in tax assessments. It prevents overlapping and potentially conflicting proceedings, ensuring fairness. The ruling emphasizes that rectification proceedings must be concluded before reassessment can be initiated. This order aims to streamline tax administration and prevent harassment of taxpayers. It reinforces the principle that procedural steps must be followed sequentially.