https://www.taxtmi.com/caselaws?id=396958 The Tribunal allowed all appeals, finding the reassessment proceedings invalid as the AO exceeded jurisdiction by making additions beyond the reasons for reopening. The Tribunal relied on precedent to conclude that the AO cannot independently assess additional income if the reasons for reassessment cease to exist. Consequently, the Tribunal deleted the unauthorized additions and canceled the penalty levied under Section 271(1)(c) as it did not survive due to the invalid reassessment proceedings. en-us Fri, 24 Jul 2020 00:00:00 +0530 Mon, 27 Jul 2020 10:42:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396958 The Tribunal allowed all appeals, finding the reassessment proceedings invalid as the AO exceeded jurisdiction by making additions beyond the reasons for reopening. The Tribunal relied on precedent to conclude that the AO cannot independently assess additional income if the reasons for reassessment cease to exist. Consequently, the Tribunal deleted the unauthorized additions and canceled the penalty levied under Section 271(1)(c) as it did not survive due to the invalid reassessment proceedings. Case-Laws Income Tax Fri, 24 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396958