https://www.taxtmi.com/caselaws?id=356955 The Tribunal dismissed the revenue's appeal, upholding the CIT(A)'s decision to quash the reassessment proceedings. The reassessment was deemed invalid as there was no failure by the assessee to disclose material facts, and the reassessment was based on subsequent years' information rather than the relevant assessment year. The addition of Rs. 15,97,22,639/- was considered unsustainable as it was not supported by the original reasons for reopening. en-us Wed, 17 Jan 2018 00:00:00 +0530 Fri, 01 Jun 2018 18:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356955 The Tribunal dismissed the revenue's appeal, upholding the CIT(A)'s decision to quash the reassessment proceedings. The reassessment was deemed invalid as there was no failure by the assessee to disclose material facts, and the reassessment was based on subsequent years' information rather than the relevant assessment year. The addition of Rs. 15,97,22,639/- was considered unsustainable as it was not supported by the original reasons for reopening. Case-Laws Income Tax Wed, 17 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356955