https://www.taxtmi.com/caselaws?id=422690 The Tribunal quashed the reassessment order under Sections 144/147, citing incorrect factual premise, non-application of mind by the AO and Ld. PCIT, and procedural lapses. The reassessment based on cash deposits in the bank was deemed void ab initio due to undated reasons for reopening, lack of verification, and mechanical actions by tax authorities. The appeal was partly allowed, with other grounds not addressed as they became moot after quashing the reassessment. en-us Wed, 18 May 2022 00:00:00 +0530 Thu, 19 May 2022 22:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422690 The Tribunal quashed the reassessment order under Sections 144/147, citing incorrect factual premise, non-application of mind by the AO and Ld. PCIT, and procedural lapses. The reassessment based on cash deposits in the bank was deemed void ab initio due to undated reasons for reopening, lack of verification, and mechanical actions by tax authorities. The appeal was partly allowed, with other grounds not addressed as they became moot after quashing the reassessment. Case-Laws Income Tax Wed, 18 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422690