https://www.taxtmi.com/caselaws?id=398309 The Tribunal held that the AO lacked valid reasons and borrowed satisfaction in reopening the assessment u/s.147 of the Act, ultimately quashing the assessment due to the absence of incriminating material. Additionally, the Tribunal found the AO's actions u/s. 68 of the Act to be without tangible material, leading to the conclusion that the assumption of jurisdiction was bad in law. Consequently, the Tribunal allowed the appeal, quashed the assessment order, and did not address the merits of the additions made. en-us Tue, 25 Aug 2020 00:00:00 +0530 Fri, 11 Sep 2020 23:43:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398309 The Tribunal held that the AO lacked valid reasons and borrowed satisfaction in reopening the assessment u/s.147 of the Act, ultimately quashing the assessment due to the absence of incriminating material. Additionally, the Tribunal found the AO's actions u/s. 68 of the Act to be without tangible material, leading to the conclusion that the assumption of jurisdiction was bad in law. Consequently, the Tribunal allowed the appeal, quashed the assessment order, and did not address the merits of the additions made. Case-Laws Income Tax Tue, 25 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398309