https://www.taxtmi.com/caselaws?id=282708 The Court dismissed the appeal challenging the order under Section 260A of the Income Tax Act for Assessment Year 1999-2000. The Tribunal's decision to reopen the assessment under Section 148 was found to be incorrect as no income addition was made from the specified source, Reliance Petrochemicals Ltd. Therefore, the Assessing Officer lacked jurisdiction to tax any other income, leading to the appeal being allowed in favor of the Respondent-Assessee. The Court emphasized the necessity for the Assessing Officer to tax income from the source mentioned in the reasons for reopening, citing the decision in CIT Vs. Jet Airways (I) Ltd. en-us Tue, 12 Apr 2016 00:00:00 +0530 Tue, 20 Aug 2019 20:35:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282708 The Court dismissed the appeal challenging the order under Section 260A of the Income Tax Act for Assessment Year 1999-2000. The Tribunal's decision to reopen the assessment under Section 148 was found to be incorrect as no income addition was made from the specified source, Reliance Petrochemicals Ltd. Therefore, the Assessing Officer lacked jurisdiction to tax any other income, leading to the appeal being allowed in favor of the Respondent-Assessee. The Court emphasized the necessity for the Assessing Officer to tax income from the source mentioned in the reasons for reopening, citing the decision in CIT Vs. Jet Airways (I) Ltd. Case-Laws Income Tax Tue, 12 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282708