https://www.taxtmi.com/caselaws?id=429207 The Tribunal quashed the assessment order under Section 143(3) read with Section 147, as the Assessing Officer wrongfully assumed jurisdiction without proper application of mind. The appeal by the assessee was allowed based on the invalid reopening of the assessment, highlighting procedural deficiencies and lack of independent verification by the AO. The Tribunal emphasized the importance of the "reason to believe" standard and cited precedents where assessments were quashed due to non-application of mind. en-us Mon, 17 Oct 2022 00:00:00 +0530 Wed, 19 Oct 2022 11:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429207 The Tribunal quashed the assessment order under Section 143(3) read with Section 147, as the Assessing Officer wrongfully assumed jurisdiction without proper application of mind. The appeal by the assessee was allowed based on the invalid reopening of the assessment, highlighting procedural deficiencies and lack of independent verification by the AO. The Tribunal emphasized the importance of the "reason to believe" standard and cited precedents where assessments were quashed due to non-application of mind. Case-Laws Income Tax Mon, 17 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429207