https://www.taxtmi.com/caselaws?id=433108 The court found the reopening of the assessment invalid due to the lack of independent application of mind by the Assessing Officer and absence of valid reasons to believe income had escaped assessment. The bench allowed grounds related to jurisdiction and validity of reopening. Additionally, the court deemed the addition of income under Section 68 erroneous as it was based on presumptions without factual evidence. The reassessment and income addition were set aside, and the appellant's appeal was allowed. Other grounds were considered superfluous and not adjudicated. en-us Wed, 18 Jan 2023 00:00:00 +0530 Sat, 21 Jan 2023 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433108 The court found the reopening of the assessment invalid due to the lack of independent application of mind by the Assessing Officer and absence of valid reasons to believe income had escaped assessment. The bench allowed grounds related to jurisdiction and validity of reopening. Additionally, the court deemed the addition of income under Section 68 erroneous as it was based on presumptions without factual evidence. The reassessment and income addition were set aside, and the appellant's appeal was allowed. Other grounds were considered superfluous and not adjudicated. Case-Laws Income Tax Wed, 18 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433108