https://www.taxtmi.com/caselaws?id=288558 The Tribunal annulled the reopening of the assessment under Section 147, finding it unjustified due to lack of tangible material. Additionally, the Tribunal deemed the addition of Rs. 5 crores unsustainable and void, as it was based on incorrect assumptions. As a result, the appeal of the assessee was allowed. en-us Fri, 06 Feb 2015 00:00:00 +0530 Wed, 17 Jun 2020 02:42:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288558 The Tribunal annulled the reopening of the assessment under Section 147, finding it unjustified due to lack of tangible material. Additionally, the Tribunal deemed the addition of Rs. 5 crores unsustainable and void, as it was based on incorrect assumptions. As a result, the appeal of the assessee was allowed. Case-Laws Income Tax Fri, 06 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288558