https://www.taxtmi.com/caselaws?id=390084 The Tribunal upheld the reopening of the assessment under Sections 143(3) and 147 based on information from the Directorate of Revenue Intelligence, allowing a deduction for customs duty paid and reducing the assessed income to Rs. 5,26,052. The Tribunal found that not all eight individuals, including the appellant, constituted an Association of Persons (AOP) due to a lack of mutual agreement for a common profit-making purpose. The appeal was partly allowed in favor of the appellant. en-us Tue, 10 Dec 2019 00:00:00 +0530 Mon, 23 Dec 2019 13:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390084 The Tribunal upheld the reopening of the assessment under Sections 143(3) and 147 based on information from the Directorate of Revenue Intelligence, allowing a deduction for customs duty paid and reducing the assessed income to Rs. 5,26,052. The Tribunal found that not all eight individuals, including the appellant, constituted an Association of Persons (AOP) due to a lack of mutual agreement for a common profit-making purpose. The appeal was partly allowed in favor of the appellant. Case-Laws Income Tax Tue, 10 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390084