https://www.taxtmi.com/caselaws?id=438232 The Tribunal quashed the reassessment order, finding the notice issued under Section 148 to be without jurisdiction. The Assessee successfully challenged the assumption of jurisdiction under Section 147, as the reasons for reopening were vague and lacked specific material against the Assessee, failing the requirements of Section 147. The additions made under Section 68 were also invalidated due to the lack of tangible material supporting the reassessment. As a result, the Assessee's appeal was allowed, and the Tribunal did not address the merits of the additions. en-us Thu, 27 Apr 2023 00:00:00 +0530 Fri, 26 May 2023 08:24:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438232 The Tribunal quashed the reassessment order, finding the notice issued under Section 148 to be without jurisdiction. The Assessee successfully challenged the assumption of jurisdiction under Section 147, as the reasons for reopening were vague and lacked specific material against the Assessee, failing the requirements of Section 147. The additions made under Section 68 were also invalidated due to the lack of tangible material supporting the reassessment. As a result, the Assessee's appeal was allowed, and the Tribunal did not address the merits of the additions. Case-Laws Income Tax Thu, 27 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438232