https://www.taxtmi.com/caselaws?id=407781 The Tribunal allowed the appeal, quashing the reopening of the assessment for AY 2007-08. The AO's reasons for reopening were found to be incorrect and non-existent, leading to the deletion of all additions made during reassessment. Other issues, including the addition under Section 68 and determination of net profit rate, were not separately addressed due to the primary ground of the invalid reopening being upheld, rendering them academic. en-us Tue, 18 May 2021 00:00:00 +0530 Fri, 21 May 2021 08:30:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407781 The Tribunal allowed the appeal, quashing the reopening of the assessment for AY 2007-08. The AO's reasons for reopening were found to be incorrect and non-existent, leading to the deletion of all additions made during reassessment. Other issues, including the addition under Section 68 and determination of net profit rate, were not separately addressed due to the primary ground of the invalid reopening being upheld, rendering them academic. Case-Laws Income Tax Tue, 18 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407781