https://www.taxtmi.com/caselaws?id=400854 The Tribunal deemed the reopening of the assessment under Sections 147/148 of the Income Tax Act unjustified and void ab initio as it lacked allegations of the assessee's failure to disclose material facts. Consequently, the reassessment proceedings were quashed, and the appeal of the assessee was allowed. The Tribunal did not address the additions of unexplained cash credit and suppression of income based on gross profit ratio due to the invalidation of the reassessment. en-us Wed, 18 Nov 2020 00:00:00 +0530 Fri, 20 Nov 2020 13:46:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400854 The Tribunal deemed the reopening of the assessment under Sections 147/148 of the Income Tax Act unjustified and void ab initio as it lacked allegations of the assessee's failure to disclose material facts. Consequently, the reassessment proceedings were quashed, and the appeal of the assessee was allowed. The Tribunal did not address the additions of unexplained cash credit and suppression of income based on gross profit ratio due to the invalidation of the reassessment. Case-Laws Income Tax Wed, 18 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400854