https://www.taxtmi.com/caselaws?id=435761 The Tribunal found the reopening of the case under Section 148 invalid as it lacked specific tangible material and independent belief of income escapement. The addition of Rs. 18,43,234 under Section 68 was vacated as the Assessing Officer failed to conduct an independent inquiry and denied the assessee an opportunity for cross-examination and access to relevant documents. The Tribunal ruled in favor of the assessee, allowing the appeal and deeming the challenge to the assessment reopening moot. en-us Thu, 23 Mar 2023 00:00:00 +0530 Mon, 12 Jun 2023 14:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435761 The Tribunal found the reopening of the case under Section 148 invalid as it lacked specific tangible material and independent belief of income escapement. The addition of Rs. 18,43,234 under Section 68 was vacated as the Assessing Officer failed to conduct an independent inquiry and denied the assessee an opportunity for cross-examination and access to relevant documents. The Tribunal ruled in favor of the assessee, allowing the appeal and deeming the challenge to the assessment reopening moot. Case-Laws Income Tax Thu, 23 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435761