https://www.taxtmi.com/caselaws?id=437508 The Tribunal quashed the reopening of the assessment under Section 147/148, finding it invalid due to the Assessing Officer's reliance on unverified information from the Investigation Wing without independent verification. The Tribunal emphasized the necessity of independent assessment and characterizing entries. Consequently, the reassessment was deemed invalid, and the appeal by the assessee was partly allowed, with other grounds not adjudicated due to the favorable decision on the reopening issue. en-us Tue, 02 May 2023 00:00:00 +0530 Sun, 07 May 2023 22:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437508 The Tribunal quashed the reopening of the assessment under Section 147/148, finding it invalid due to the Assessing Officer's reliance on unverified information from the Investigation Wing without independent verification. The Tribunal emphasized the necessity of independent assessment and characterizing entries. Consequently, the reassessment was deemed invalid, and the appeal by the assessee was partly allowed, with other grounds not adjudicated due to the favorable decision on the reopening issue. Case-Laws Income Tax Tue, 02 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437508