https://www.taxtmi.com/caselaws?id=438947 The Tribunal held that the assumption of jurisdiction in reopening the assessment under Section 147 was invalid as statutory conditions were not met. The Tribunal also quashed the assessment order dated 10.03.2022 due to procedural irregularities. The disallowance of Rs. 25 lakhs under Section 37(1) was deemed unjustified, and the assessee's appeal was allowed. The reopening of the assessment was found to be invalid, and the assessment order was set aside. en-us Fri, 09 Jun 2023 00:00:00 +0530 Tue, 13 Jun 2023 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438947 The Tribunal held that the assumption of jurisdiction in reopening the assessment under Section 147 was invalid as statutory conditions were not met. The Tribunal also quashed the assessment order dated 10.03.2022 due to procedural irregularities. The disallowance of Rs. 25 lakhs under Section 37(1) was deemed unjustified, and the assessee's appeal was allowed. The reopening of the assessment was found to be invalid, and the assessment order was set aside. Case-Laws Income Tax Fri, 09 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438947