https://www.taxtmi.com/caselaws?id=369061 The Tribunal allowed the appeal, quashing the reopening and reassessment order by the Assessing Officer. The Tribunal found the AO lacked independent application of mind, failed to comply with procedural requirements, and the reasons for reopening were vague and insufficient. The AO's actions were deemed based on borrowed satisfaction, not meeting the legal standard for income escapement belief. The Tribunal concluded the AO's jurisdiction to reopen the assessment was invalid, ruling in favor of the assessee. en-us Mon, 15 Oct 2018 00:00:00 +0530 Sat, 20 Oct 2018 09:58:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369061 The Tribunal allowed the appeal, quashing the reopening and reassessment order by the Assessing Officer. The Tribunal found the AO lacked independent application of mind, failed to comply with procedural requirements, and the reasons for reopening were vague and insufficient. The AO's actions were deemed based on borrowed satisfaction, not meeting the legal standard for income escapement belief. The Tribunal concluded the AO's jurisdiction to reopen the assessment was invalid, ruling in favor of the assessee. Case-Laws Income Tax Mon, 15 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369061