https://www.taxtmi.com/caselaws?id=431113 The Tribunal found the reassessment proceedings invalid due to the Assessing Officer's lack of application of mind, reliance on irrelevant material, and initiation based on suspicion rather than reliable information. The appeal was decided in favor of the assessee, and the reassessment proceedings were quashed. The Tribunal did not rule on the merits of the addition, rendering those arguments academic. en-us Mon, 31 Oct 2022 00:00:00 +0530 Tue, 06 Dec 2022 09:39:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431113 The Tribunal found the reassessment proceedings invalid due to the Assessing Officer's lack of application of mind, reliance on irrelevant material, and initiation based on suspicion rather than reliable information. The appeal was decided in favor of the assessee, and the reassessment proceedings were quashed. The Tribunal did not rule on the merits of the addition, rendering those arguments academic. Case-Laws Income Tax Mon, 31 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431113