https://www.taxtmi.com/caselaws?id=365278 The Tribunal quashed the reopening of the assessment under Section 147/148 as the Assessing Officer relied on borrowed satisfaction without independent application of mind. Consequently, the reassessment proceedings were invalidated, making the addition under Section 68 academic. The Cross Objection by the assessee was allowed, and the Revenue's appeal was dismissed. en-us Tue, 31 Jul 2018 00:00:00 +0530 Tue, 14 Aug 2018 07:43:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365278 The Tribunal quashed the reopening of the assessment under Section 147/148 as the Assessing Officer relied on borrowed satisfaction without independent application of mind. Consequently, the reassessment proceedings were invalidated, making the addition under Section 68 academic. The Cross Objection by the assessee was allowed, and the Revenue's appeal was dismissed. Case-Laws Income Tax Tue, 31 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365278