https://www.taxtmi.com/caselaws?id=431377 The Tribunal dismissed the Revenue's appeal against the Commissioner of Income Tax (Appeals) order for the assessment year 2011-12. The Tribunal allowed the assessee's cross objections challenging the validity of the reassessment. It held that additions in the reassessment lacked jurisdiction as they did not align with the reasons for reopening the assessment. The Tribunal emphasized that additions must be based on the reasons recorded for reopening. Consequently, the Tribunal set aside the additions made during the reassessment proceedings. en-us Fri, 09 Dec 2022 00:00:00 +0530 Mon, 12 Dec 2022 06:09:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431377 The Tribunal dismissed the Revenue's appeal against the Commissioner of Income Tax (Appeals) order for the assessment year 2011-12. The Tribunal allowed the assessee's cross objections challenging the validity of the reassessment. It held that additions in the reassessment lacked jurisdiction as they did not align with the reasons for reopening the assessment. The Tribunal emphasized that additions must be based on the reasons recorded for reopening. Consequently, the Tribunal set aside the additions made during the reassessment proceedings. Case-Laws Income Tax Fri, 09 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431377