https://www.taxtmi.com/highlights?id=77092 Validity of reopening of assessment - Approval of PCIT u/s 151 - The Tribunal acknowledged the Assessee's argument regarding the mechanical approval granted by the PCIT. They referred to precedents where similar approvals were deemed invalid due to lack of meaningful application of mind. Citing relevant case law, the Tribunal concluded that the approval in this case, given with a simple "Yes, I am satisfied," lacked due application of mind by the approving authority. Therefore, the Tribunal allowed the ground raised by the Assessee regarding the validity of the reassessment proceedings. en-us Fri, 03 May 2024 09:33:05 +0530 Fri, 03 May 2024 09:33:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=77092 Validity of reopening of assessment - Approval of PCIT u/s 151 - The Tribunal acknowledged the Assessee's argument regarding the mechanical approval granted by the PCIT. They referred to precedents where similar approvals were deemed invalid due to lack of meaningful application of mind. Citing relevant case law, the Tribunal concluded that the approval in this case, given with a simple "Yes, I am satisfied," lacked due application of mind by the approving authority. Therefore, the Tribunal allowed the ground raised by the Assessee regarding the validity of the reassessment proceedings. Highlights Income Tax Fri, 03 May 2024 09:33:05 +0530 https://www.taxtmi.com/highlights?id=77092