https://www.taxtmi.com/caselaws?id=406189 The Tribunal determined that the reopening of the assessment for A.Y. 2008-2009 was unlawful due to reliance on borrowed satisfaction without independent verification by the A.O. The reassessment order was upheld as valid, with the A.O. having conducted thorough inquiries. The Pr. CIT's order under Section 263 was quashed, restoring the A.O.'s order. The Tribunal allowed the assessee's appeal, aligning with prior judgments, and confirmed that the reassessment proceedings were neither erroneous nor prejudicial to the Revenue's interests. en-us Tue, 06 Apr 2021 00:00:00 +0530 Mon, 28 Oct 2024 15:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406189 The Tribunal determined that the reopening of the assessment for A.Y. 2008-2009 was unlawful due to reliance on borrowed satisfaction without independent verification by the A.O. The reassessment order was upheld as valid, with the A.O. having conducted thorough inquiries. The Pr. CIT's order under Section 263 was quashed, restoring the A.O.'s order. The Tribunal allowed the assessee's appeal, aligning with prior judgments, and confirmed that the reassessment proceedings were neither erroneous nor prejudicial to the Revenue's interests. Case-Laws Income Tax Tue, 06 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406189