https://www.taxtmi.com/caselaws?id=413294 The Tribunal quashed the reassessment order, finding that the Assessing Officer (AO) lacked valid jurisdiction to reopen the assessment due to incorrect and inconsistent facts forming the basis of the "reasons to believe" that income had escaped assessment. Consequently, the appeal of the assessee was allowed, and the reassessment order was invalidated. The Tribunal did not address the merits of the addition, as the legal issue of reopening was dispositive. en-us Wed, 25 Aug 2021 00:00:00 +0530 Fri, 08 Oct 2021 08:21:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413294 The Tribunal quashed the reassessment order, finding that the Assessing Officer (AO) lacked valid jurisdiction to reopen the assessment due to incorrect and inconsistent facts forming the basis of the "reasons to believe" that income had escaped assessment. Consequently, the appeal of the assessee was allowed, and the reassessment order was invalidated. The Tribunal did not address the merits of the addition, as the legal issue of reopening was dispositive. Case-Laws Income Tax Wed, 25 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413294