https://www.taxtmi.com/caselaws?id=330068 The Tribunal upheld the CIT(A)'s decision to quash the assessment order under Section 148 and delete the addition of Rs. 65,26,337/- towards low Gross Profit. The Tribunal emphasized the importance of tangible material for reopening assessments and the necessity to identify specific defects in books of accounts before making additions. The Revenue's appeal was dismissed, and the assessee's cross-objection on interest charges was also dismissed as not pressed. en-us Tue, 31 May 2016 00:00:00 +0530 Sat, 16 Jul 2016 12:36:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330068 The Tribunal upheld the CIT(A)'s decision to quash the assessment order under Section 148 and delete the addition of Rs. 65,26,337/- towards low Gross Profit. The Tribunal emphasized the importance of tangible material for reopening assessments and the necessity to identify specific defects in books of accounts before making additions. The Revenue's appeal was dismissed, and the assessee's cross-objection on interest charges was also dismissed as not pressed. Case-Laws Income Tax Tue, 31 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330068