https://www.taxtmi.com/caselaws?id=415072 The court invalidated the notice issued under section 148 of the Income-tax Act, ruling that the reopening was primarily for verification purposes, which is impermissible. The reassessment proceedings under section 147 were also deemed invalid due to incorrect facts and lack of independent verification. The partial confirmation of alleged bogus purchases was not addressed as the reassessment was quashed. Consequently, the court allowed the assessee's appeal, declaring the reassessment proceedings as invalid and all related issues as academic. en-us Thu, 23 Sep 2021 00:00:00 +0530 Thu, 25 Nov 2021 07:57:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415072 The court invalidated the notice issued under section 148 of the Income-tax Act, ruling that the reopening was primarily for verification purposes, which is impermissible. The reassessment proceedings under section 147 were also deemed invalid due to incorrect facts and lack of independent verification. The partial confirmation of alleged bogus purchases was not addressed as the reassessment was quashed. Consequently, the court allowed the assessee's appeal, declaring the reassessment proceedings as invalid and all related issues as academic. Case-Laws Income Tax Thu, 23 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415072