https://www.taxtmi.com/caselaws?id=408081 The Tribunal quashed the reopening proceedings initiated by the Assessing Officer as they were based on borrowed satisfaction, lacked independent verification, and the reasons recorded did not justify the belief of income escapement. The Tribunal also held that the Assessing Officer had no jurisdiction to make additions on grounds not forming part of the reasons recorded for reopening. As a result, the appeal of the assessee was allowed. en-us Mon, 24 May 2021 00:00:00 +0530 Mon, 31 May 2021 17:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408081 The Tribunal quashed the reopening proceedings initiated by the Assessing Officer as they were based on borrowed satisfaction, lacked independent verification, and the reasons recorded did not justify the belief of income escapement. The Tribunal also held that the Assessing Officer had no jurisdiction to make additions on grounds not forming part of the reasons recorded for reopening. As a result, the appeal of the assessee was allowed. Case-Laws Income Tax Mon, 24 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408081