https://www.taxtmi.com/caselaws?id=405553 The Tribunal held the reopening of the assessment invalid and bad in law due to the non-application of mind by the Assessing Officer (A.O.) and the mechanical approval by the Principal Commissioner of Income Tax (Pr. CIT). Consequently, all additions made by the A.O., including Rs. 95 lakhs as share application money and Rs. 1,90,000/- on account of commission paid, were deleted. The Tribunal stressed the necessity of proper application of mind and tangible material in commencing reassessment proceedings. en-us Fri, 19 Mar 2021 00:00:00 +0530 Tue, 23 Mar 2021 08:42:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405553 The Tribunal held the reopening of the assessment invalid and bad in law due to the non-application of mind by the Assessing Officer (A.O.) and the mechanical approval by the Principal Commissioner of Income Tax (Pr. CIT). Consequently, all additions made by the A.O., including Rs. 95 lakhs as share application money and Rs. 1,90,000/- on account of commission paid, were deleted. The Tribunal stressed the necessity of proper application of mind and tangible material in commencing reassessment proceedings. Case-Laws Income Tax Fri, 19 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405553