https://www.taxtmi.com/caselaws?id=357031 The tribunal ruled in favor of the assessee, quashing the reopening of the assessment and directing the deletion of the addition of Rs. 12,35,384/- to the income. The tribunal emphasized the importance of consistent accounting practices and the requirement of new material to justify reopening assessments after four years. The decision highlighted the lack of justification for the reopening based on an alleged accounting mistake and the failure to properly consider the assessee's explanations and established accounting method in confirming the addition. en-us Wed, 14 Mar 2018 00:00:00 +0530 Thu, 15 Mar 2018 20:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357031 The tribunal ruled in favor of the assessee, quashing the reopening of the assessment and directing the deletion of the addition of Rs. 12,35,384/- to the income. The tribunal emphasized the importance of consistent accounting practices and the requirement of new material to justify reopening assessments after four years. The decision highlighted the lack of justification for the reopening based on an alleged accounting mistake and the failure to properly consider the assessee's explanations and established accounting method in confirming the addition. Case-Laws Income Tax Wed, 14 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357031