https://www.taxtmi.com/caselaws?id=304517 The Tribunal ruled in favor of the Assessee, quashing the initiation of reassessment proceedings and the notice under Section 148 of the Income Tax Act. The Tribunal found the reopening of assessment to be invalid as it was based on incorrect assumptions and without proper verification. Consequently, the issue of adding Rs. 80,77,695 on account of undisclosed turnover became irrelevant and was not adjudicated upon. The decision was pronounced on 30.04.2019. en-us Tue, 30 Apr 2019 00:00:00 +0530 Fri, 30 Sep 2022 09:39:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304517 The Tribunal ruled in favor of the Assessee, quashing the initiation of reassessment proceedings and the notice under Section 148 of the Income Tax Act. The Tribunal found the reopening of assessment to be invalid as it was based on incorrect assumptions and without proper verification. Consequently, the issue of adding Rs. 80,77,695 on account of undisclosed turnover became irrelevant and was not adjudicated upon. The decision was pronounced on 30.04.2019. Case-Laws Income Tax Tue, 30 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304517