https://www.taxtmi.com/caselaws?id=392823 The Tribunal found the re-opening of the assessment invalid due to the Assessing Officer's lack of independent application of mind, basing the action solely on information from the Investigation Wing. Consequently, the reassessment was quashed, citing the necessity of independent application of mind by the AO. The additions of Rs. 10,00,000 under Section 68 and Rs. 20,000 as unexplained expenditure were rendered moot following the quashing of the reassessment. The Tribunal emphasized the importance of independent inquiry and application of mind in such proceedings, partially allowing the appeal. en-us Thu, 16 Jan 2020 00:00:00 +0530 Fri, 13 Mar 2020 17:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392823 The Tribunal found the re-opening of the assessment invalid due to the Assessing Officer's lack of independent application of mind, basing the action solely on information from the Investigation Wing. Consequently, the reassessment was quashed, citing the necessity of independent application of mind by the AO. The additions of Rs. 10,00,000 under Section 68 and Rs. 20,000 as unexplained expenditure were rendered moot following the quashing of the reassessment. The Tribunal emphasized the importance of independent inquiry and application of mind in such proceedings, partially allowing the appeal. Case-Laws Income Tax Thu, 16 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392823