Sec. 147 of Income Tax Act, 1961 – Reassessment – Appeal under Section 260A of the IT Act,1961 is preferred by the Revenue against the order of ITAT questioning treating the assessment as bad in law and also interpretation of Section 148 of the Act. ITAT allowed the appeal of the assessee holding that the assessment order under Section 143(3) read with Section 147 of the Act was illegal and erroneous in law as the assessment proceedings initiated under Section 142(1) of the Act were pending on the date of the issue of the notice under Section 148 of the Act. High Court dismissed the appeal of the revenue holding that:- Section 142(1) and Section 148 of the Act cannot operate simultaneously. There is no discretion vested with the Assessing Officer to utilize any one of them. Income cannot be said to have escaped assessment when the assessment proceedings are pending—Pr. CIt vs. Govind gopal goyal [2020] 423 ITR 106 (GUJ)