https://www.taxtmi.com/caselaws?id=412275 The Tribunal held that the reopening of the assessment under Section 148 was invalid due to non-application of mind by the Assessing Officer and absence of failure to disclose material facts. The Tribunal also ruled in favor of the assessee regarding the deletion of the addition under Section 69 and disallowance of depreciation, stating that there was no concrete evidence implicating the assessee. Consequently, the Tribunal allowed the assessee's cross objections and dismissed the revenue's appeals. en-us Mon, 30 Aug 2021 00:00:00 +0530 Tue, 14 Sep 2021 10:48:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412275 The Tribunal held that the reopening of the assessment under Section 148 was invalid due to non-application of mind by the Assessing Officer and absence of failure to disclose material facts. The Tribunal also ruled in favor of the assessee regarding the deletion of the addition under Section 69 and disallowance of depreciation, stating that there was no concrete evidence implicating the assessee. Consequently, the Tribunal allowed the assessee's cross objections and dismissed the revenue's appeals. Case-Laws Income Tax Mon, 30 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412275