https://www.taxtmi.com/caselaws?id=328740 The Tribunal allowed the appeal, setting aside the assessment order and the addition of Rs. 15,00,000 under Section 68 of the Income Tax Act. The Tribunal found the Assessing Officer's actions lacked independent application of mind, rendering the assessment order invalid. The Tribunal also deemed the assumption of jurisdiction under Section 147 illegal due to the AO's failure to conduct independent verification. Consequently, the addition of Rs. 15,00,000 was considered infructuous and set aside. The Tribunal emphasized the importance of the AO independently verifying information before reopening assessments under Section 147. en-us Tue, 17 May 2016 00:00:00 +0530 Mon, 13 Jun 2016 13:15:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328740 The Tribunal allowed the appeal, setting aside the assessment order and the addition of Rs. 15,00,000 under Section 68 of the Income Tax Act. The Tribunal found the Assessing Officer's actions lacked independent application of mind, rendering the assessment order invalid. The Tribunal also deemed the assumption of jurisdiction under Section 147 illegal due to the AO's failure to conduct independent verification. Consequently, the addition of Rs. 15,00,000 was considered infructuous and set aside. The Tribunal emphasized the importance of the AO independently verifying information before reopening assessments under Section 147. Case-Laws Income Tax Tue, 17 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328740