https://www.taxtmi.com/caselaws?id=383231 The Tribunal ruled in favor of the assessee for A.Ys. 2012-13 and 2013-14, emphasizing the necessity of independent assessment and adherence to procedural fairness in income tax matters. The reopening of assessment solely based on external information without independent verification was deemed invalid. Denial of the right to cross-examine witnesses was considered a violation of natural justice principles, leading to the nullity of the assessment. The addition to income based on unverifiable purchases was found unwarranted, with the Tribunal supporting the ld.CIT(A)'s decision to restrict the addition based on past profit rates. en-us Wed, 12 Jun 2019 00:00:00 +0530 Thu, 18 Jul 2019 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383231 The Tribunal ruled in favor of the assessee for A.Ys. 2012-13 and 2013-14, emphasizing the necessity of independent assessment and adherence to procedural fairness in income tax matters. The reopening of assessment solely based on external information without independent verification was deemed invalid. Denial of the right to cross-examine witnesses was considered a violation of natural justice principles, leading to the nullity of the assessment. The addition to income based on unverifiable purchases was found unwarranted, with the Tribunal supporting the ld.CIT(A)'s decision to restrict the addition based on past profit rates. Case-Laws Income Tax Wed, 12 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383231