https://www.taxtmi.com/caselaws?id=402227 The Tribunal ruled in favor of the appellant, finding the reopening of the assessment and the additions made by the Assessing Officer to be invalid. The Tribunal held that the Assessing Officer failed to properly verify information, consult relevant records, and form a belief based on mere suspicions, leading to an unlawful reopening of the assessment under section 147 of the Income Tax Act, 1961. Consequently, the assessment framed under section 147 was deemed unlawful and quashed, resulting in the appeal being allowed. en-us Mon, 03 Aug 2020 00:00:00 +0530 Sat, 26 Dec 2020 11:34:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402227 The Tribunal ruled in favor of the appellant, finding the reopening of the assessment and the additions made by the Assessing Officer to be invalid. The Tribunal held that the Assessing Officer failed to properly verify information, consult relevant records, and form a belief based on mere suspicions, leading to an unlawful reopening of the assessment under section 147 of the Income Tax Act, 1961. Consequently, the assessment framed under section 147 was deemed unlawful and quashed, resulting in the appeal being allowed. Case-Laws Income Tax Mon, 03 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402227