https://www.taxtmi.com/caselaws?id=429420 The Tribunal allowed the assessee's appeal, quashing the assessment reopening under section 147 due to mechanical approval without independent application of mind. Consequently, the addition under section 68 for unexplained cash deposits and penalty proceedings under section 271(1)(c) were invalidated. The decision highlighted the importance of assessing authorities applying independent and thoughtful consideration in reopening assessments. en-us Tue, 04 Oct 2022 00:00:00 +0530 Fri, 28 Oct 2022 09:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429420 The Tribunal allowed the assessee's appeal, quashing the assessment reopening under section 147 due to mechanical approval without independent application of mind. Consequently, the addition under section 68 for unexplained cash deposits and penalty proceedings under section 271(1)(c) were invalidated. The decision highlighted the importance of assessing authorities applying independent and thoughtful consideration in reopening assessments. Case-Laws Income Tax Tue, 04 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429420