https://www.taxtmi.com/caselaws?id=402272 The Tribunal allowed the appeal, quashing the reopening of the assessment under Section 147 of the Income Tax Act and invalidating the addition of Rs. 10,00,58,873/- to the income of the assessee. The reassessment was found to lack proper independent verification by the Assessing Officer and was solely based on information from the ADIT (Investigation), leading to the conclusion that the reassessment proceedings were initiated without proper application of mind. en-us Wed, 23 Dec 2020 00:00:00 +0530 Mon, 28 Dec 2020 09:45:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402272 The Tribunal allowed the appeal, quashing the reopening of the assessment under Section 147 of the Income Tax Act and invalidating the addition of Rs. 10,00,58,873/- to the income of the assessee. The reassessment was found to lack proper independent verification by the Assessing Officer and was solely based on information from the ADIT (Investigation), leading to the conclusion that the reassessment proceedings were initiated without proper application of mind. Case-Laws Income Tax Wed, 23 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402272