https://www.taxtmi.com/caselaws?id=417221 The Tribunal quashed the reassessment orders for AY 2009-10 and 2010-11 due to the Assessing Officer's failure to provide reasons for reopening assessments, as required by section 148(2) of the Income Tax Act. For AY 2010-11, the reassessment was annulled as it was based on borrowed satisfaction from the Investigation Wing. Additionally, the Tribunal directed the AO to recompute agricultural income for AYs 2013-14 to 2015-16, excluding income from the sale of goats, and limited the ad hoc disallowance of expenses to 5% for the same years. en-us Fri, 07 Jan 2022 00:00:00 +0530 Tue, 18 Jan 2022 08:45:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417221 The Tribunal quashed the reassessment orders for AY 2009-10 and 2010-11 due to the Assessing Officer's failure to provide reasons for reopening assessments, as required by section 148(2) of the Income Tax Act. For AY 2010-11, the reassessment was annulled as it was based on borrowed satisfaction from the Investigation Wing. Additionally, the Tribunal directed the AO to recompute agricultural income for AYs 2013-14 to 2015-16, excluding income from the sale of goats, and limited the ad hoc disallowance of expenses to 5% for the same years. Case-Laws Income Tax Fri, 07 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417221