https://www.taxtmi.com/caselaws?id=272618 The Tribunal found the reopening of assessment proceedings under Section 147 invalid as the Assessing Officer relied on borrowed satisfaction from the Directorate of Income Tax without independent verification. Consequently, the reassessment orders for both assessment years were quashed, and the appeals were allowed. en-us Fri, 16 May 2014 00:00:00 +0530 Thu, 10 May 2018 05:55:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272618 The Tribunal found the reopening of assessment proceedings under Section 147 invalid as the Assessing Officer relied on borrowed satisfaction from the Directorate of Income Tax without independent verification. Consequently, the reassessment orders for both assessment years were quashed, and the appeals were allowed. Case-Laws Income Tax Fri, 16 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272618