https://www.taxtmi.com/caselaws?id=253707 The Tribunal quashed the notice issued under sections 147 and 148 of the Income Tax Act, holding that the reasons recorded for reopening the assessment were vague and lacked tangible material. The Tribunal found that the Assessing Officer did not apply independent mind and failed to establish a nexus between the information received and the inference drawn. As a result, the reassessment proceedings were deemed invalid, and the appeals were allowed in favor of the assessee. en-us Fri, 28 Nov 2014 00:00:00 +0530 Tue, 02 Dec 2014 08:39:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253707 The Tribunal quashed the notice issued under sections 147 and 148 of the Income Tax Act, holding that the reasons recorded for reopening the assessment were vague and lacked tangible material. The Tribunal found that the Assessing Officer did not apply independent mind and failed to establish a nexus between the information received and the inference drawn. As a result, the reassessment proceedings were deemed invalid, and the appeals were allowed in favor of the assessee. Case-Laws Income Tax Fri, 28 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253707