https://www.taxtmi.com/caselaws?id=400840 Unrebutted documentary and banking evidence supported the machinery purchase, and the Assessing Officer's enquiries were limited to third-party addresses without verifying the asset at the assessee's premises; the addition for alleged bogus purchase and the related depreciation claim were therefore deleted and upheld against the Revenue. On reopening, the assessee filed no objections after receipt of the recorded reasons, so the requirement to dispose of objections by a speaking order was not triggered; the challenge to reassessment under section 148 accordingly failed against the assessee. en-us Mon, 27 Jul 2020 00:00:00 +0530 Thu, 19 Nov 2020 13:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400840 Unrebutted documentary and banking evidence supported the machinery purchase, and the Assessing Officer's enquiries were limited to third-party addresses without verifying the asset at the assessee's premises; the addition for alleged bogus purchase and the related depreciation claim were therefore deleted and upheld against the Revenue. On reopening, the assessee filed no objections after receipt of the recorded reasons, so the requirement to dispose of objections by a speaking order was not triggered; the challenge to reassessment under section 148 accordingly failed against the assessee. Case-Laws Income Tax Mon, 27 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400840