https://www.taxtmi.com/caselaws?id=411993 The court quashed the reopening of the assessment under Section 147/148 due to the Assessing Officer's failure to independently apply his mind and reliance on borrowed satisfaction. It was held that the purchases could not be deemed as bogus when the sales were accepted. Additionally, the failure to allow cross-examination violated principles of natural justice. The assessee's appeal was allowed on legal grounds and merits. en-us Wed, 25 Aug 2021 00:00:00 +0530 Wed, 08 Sep 2021 08:33:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411993 The court quashed the reopening of the assessment under Section 147/148 due to the Assessing Officer's failure to independently apply his mind and reliance on borrowed satisfaction. It was held that the purchases could not be deemed as bogus when the sales were accepted. Additionally, the failure to allow cross-examination violated principles of natural justice. The assessee's appeal was allowed on legal grounds and merits. Case-Laws Income Tax Wed, 25 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411993