https://www.taxtmi.com/highlights?id=56213 Reopening of assessment u/s 147 - addition u/s 68 - The law regarding reopening of assessment is well-settled. The reliance placed upon the findings of the earlier assessment proceedings is misplaced. If the assumption of jurisdiction is held to be valid, the Appellant cannot place undue credence on the earlier assessment proceedings. Once an assessment is reopened, the initial order for assessment ceases to be operative and the proceedings start afresh. - HC en-us Wed, 06 Jan 2021 15:08:40 +0530 Wed, 06 Jan 2021 15:08:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=56213 Reopening of assessment u/s 147 - addition u/s 68 - The law regarding reopening of assessment is well-settled. The reliance placed upon the findings of the earlier assessment proceedings is misplaced. If the assumption of jurisdiction is held to be valid, the Appellant cannot place undue credence on the earlier assessment proceedings. Once an assessment is reopened, the initial order for assessment ceases to be operative and the proceedings start afresh. - HC Highlights Income Tax Wed, 06 Jan 2021 15:08:40 +0530 https://www.taxtmi.com/highlights?id=56213