https://www.taxtmi.com/caselaws?id=292616 The Tribunal quashed the reassessment proceedings due to various procedural irregularities, including incorrect facts relied upon by the Assessing Officer, mechanical approval by the Additional Commissioner of Income Tax, and failure to provide reasons for reopening the assessment. As a result, the reassessment was deemed invalid, and the appeal filed by the assessee was allowed. Other issues, such as the addition of income under Section 68 and charging of interest under Section 234B, were not addressed as the reassessment itself was invalidated. en-us Mon, 21 Sep 2020 00:00:00 +0530 Fri, 01 Jan 2021 16:40:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292616 The Tribunal quashed the reassessment proceedings due to various procedural irregularities, including incorrect facts relied upon by the Assessing Officer, mechanical approval by the Additional Commissioner of Income Tax, and failure to provide reasons for reopening the assessment. As a result, the reassessment was deemed invalid, and the appeal filed by the assessee was allowed. Other issues, such as the addition of income under Section 68 and charging of interest under Section 234B, were not addressed as the reassessment itself was invalidated. Case-Laws Income Tax Mon, 21 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292616