https://www.taxtmi.com/caselaws?id=396902 The High Court upheld the decisions of the CIT(A) and the tribunal, dismissing the appeal filed by the revenue. The Court found that the reopening of assessment based solely on the audit objection was not valid under the Income Tax Act. The Court emphasized the importance of the Assessing Officer forming an independent opinion and not relying solely on external suggestions. The judgment favored the Assessee, and the substantial Questions of Law were answered against the revenue, resulting in the appeal being dismissed with no costs incurred. en-us Tue, 14 Jul 2020 00:00:00 +0530 Fri, 24 Jul 2020 09:25:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396902 The High Court upheld the decisions of the CIT(A) and the tribunal, dismissing the appeal filed by the revenue. The Court found that the reopening of assessment based solely on the audit objection was not valid under the Income Tax Act. The Court emphasized the importance of the Assessing Officer forming an independent opinion and not relying solely on external suggestions. The judgment favored the Assessee, and the substantial Questions of Law were answered against the revenue, resulting in the appeal being dismissed with no costs incurred. Case-Laws Income Tax Tue, 14 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396902