https://www.taxtmi.com/caselaws?id=428084 The Tribunal quashed the reassessment order, declaring it erroneous and allowed the appeals filed by the assessee. The reassessment proceedings lacked credible evidence, and the Assessing Officer acted beyond jurisdiction by making additions unrelated to the recorded reasons. The Tribunal emphasized the necessity of definite and credible reasons for initiating reassessment proceedings, citing relevant Supreme Court judgments. en-us Tue, 20 Sep 2022 00:00:00 +0530 Fri, 23 Sep 2022 08:25:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428084 The Tribunal quashed the reassessment order, declaring it erroneous and allowed the appeals filed by the assessee. The reassessment proceedings lacked credible evidence, and the Assessing Officer acted beyond jurisdiction by making additions unrelated to the recorded reasons. The Tribunal emphasized the necessity of definite and credible reasons for initiating reassessment proceedings, citing relevant Supreme Court judgments. Case-Laws Income Tax Tue, 20 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428084