https://www.taxtmi.com/caselaws?id=438239 The Tribunal held that the Assessing Officer did not have jurisdiction to reopen assessments for AY 2006-07 and 2007-08 based on information from the French Government regarding undisclosed balances in an HSBC Bank account in Geneva. The Tribunal found the reasons for reopening to be vague and lacking specific details on how the income was taxable in India. Additionally, it determined that the deposits in the HSBC account were sourced from income earned outside India, leading to the quashing of the reassessment orders and allowing both appeals of the assessee. en-us Tue, 09 May 2023 00:00:00 +0530 Fri, 26 May 2023 08:24:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438239 The Tribunal held that the Assessing Officer did not have jurisdiction to reopen assessments for AY 2006-07 and 2007-08 based on information from the French Government regarding undisclosed balances in an HSBC Bank account in Geneva. The Tribunal found the reasons for reopening to be vague and lacking specific details on how the income was taxable in India. Additionally, it determined that the deposits in the HSBC account were sourced from income earned outside India, leading to the quashing of the reassessment orders and allowing both appeals of the assessee. Case-Laws Income Tax Tue, 09 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438239