https://www.taxtmi.com/caselaws?id=417187 The court held that the reopening of the assessment lacked a valid reason and independent assessment by the Assessing Officer (AO). As a result, the court ruled in favor of the assessee, finding the notice under Section 148 and subsequent proceedings illegal. The issues regarding the validity of the reopening, compliance with mandatory conditions, and legality of the notice were decided in favor of the assessee. The appeal was allowed, making the matter of income classification and exemption under Section 80P(2)(a)(i) irrelevant. en-us Tue, 23 Nov 2021 00:00:00 +0530 Mon, 17 Jan 2022 08:58:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417187 The court held that the reopening of the assessment lacked a valid reason and independent assessment by the Assessing Officer (AO). As a result, the court ruled in favor of the assessee, finding the notice under Section 148 and subsequent proceedings illegal. The issues regarding the validity of the reopening, compliance with mandatory conditions, and legality of the notice were decided in favor of the assessee. The appeal was allowed, making the matter of income classification and exemption under Section 80P(2)(a)(i) irrelevant. Case-Laws Income Tax Tue, 23 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417187