https://www.taxtmi.com/caselaws?id=420563 The Tribunal allowed the Assessee's appeal, quashing the reopening of assessment proceedings under section 147 of the Income-tax Act. The Tribunal held that the reasons for reopening were insufficient and based on borrowed satisfaction, making the reopening unjustified. As a result, the Tribunal did not delve into the case's merits, considering it futile. The decision was rendered on 29/03/2022 in open court, emphasizing the need for independent verification and a direct link between material and the belief of income escapement for a valid reopening under sections 147/148 of the Act. en-us Tue, 29 Mar 2022 00:00:00 +0530 Tue, 05 Apr 2022 09:08:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420563 The Tribunal allowed the Assessee's appeal, quashing the reopening of assessment proceedings under section 147 of the Income-tax Act. The Tribunal held that the reasons for reopening were insufficient and based on borrowed satisfaction, making the reopening unjustified. As a result, the Tribunal did not delve into the case's merits, considering it futile. The decision was rendered on 29/03/2022 in open court, emphasizing the need for independent verification and a direct link between material and the belief of income escapement for a valid reopening under sections 147/148 of the Act. Case-Laws Income Tax Tue, 29 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420563