https://www.taxtmi.com/caselaws?id=423508 The Tribunal invalidated the reassessment order under section 147 of the Income Tax Act, citing deficiencies in the reasons recorded by the assessing officer. The Tribunal emphasized that the reasons lacked concrete information, were not standalone, showed non-application of mind, and lacked tangible material for re-opening the assessment. Additionally, the Tribunal allowed the admission of additional grounds challenging the reassessment, as they raised crucial legal issues already supported by existing facts on record. Consequently, the reassessment was quashed, and all other issues on the merits of the additions in the assessment became irrelevant. en-us Mon, 06 Jun 2022 00:00:00 +0530 Tue, 07 Jun 2022 12:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423508 The Tribunal invalidated the reassessment order under section 147 of the Income Tax Act, citing deficiencies in the reasons recorded by the assessing officer. The Tribunal emphasized that the reasons lacked concrete information, were not standalone, showed non-application of mind, and lacked tangible material for re-opening the assessment. Additionally, the Tribunal allowed the admission of additional grounds challenging the reassessment, as they raised crucial legal issues already supported by existing facts on record. Consequently, the reassessment was quashed, and all other issues on the merits of the additions in the assessment became irrelevant. Case-Laws Income Tax Mon, 06 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423508