https://www.taxtmi.com/caselaws?id=421393 The Tribunal allowed the Assessee's appeal, quashing the reassessment order and the CIT(A)'s decision upholding the addition of Rs. 25 lakhs to the Assessee's income. The Tribunal held that the reopening of the case under sections 147/148 was invalid as the AO failed to independently verify the information and relied on borrowed satisfaction. Consequently, the Tribunal did not address the merits of the addition, ultimately ruling in favor of the Assessee on 23/03/2022. en-us Wed, 23 Mar 2022 00:00:00 +0530 Sat, 23 Apr 2022 08:34:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421393 The Tribunal allowed the Assessee's appeal, quashing the reassessment order and the CIT(A)'s decision upholding the addition of Rs. 25 lakhs to the Assessee's income. The Tribunal held that the reopening of the case under sections 147/148 was invalid as the AO failed to independently verify the information and relied on borrowed satisfaction. Consequently, the Tribunal did not address the merits of the addition, ultimately ruling in favor of the Assessee on 23/03/2022. Case-Laws Income Tax Wed, 23 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421393