https://www.taxtmi.com/caselaws?id=766703 ITAT Mumbai quashed reopening proceedings u/s 147 for AY 2011-12, ruling invalid approval u/s 151 due to non-application of mind. The alleged transaction dated 20/01/2010 pertained to AY 2010-11, not 2011-12, and involved a non-existent firm. For AY 2012-13 to 2018-19, additions of unexplained cash loans and interest were deleted as seized documents referenced different individuals (S.M. Joglekar, Ramesh Gala) with no established connection to the assessee. ITAT held no incriminating material existed against the assessee, deciding entirely in favour of the assessee. en-us Thu, 27 Feb 2025 00:00:00 +0530 Sat, 01 Mar 2025 10:12:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766703 ITAT Mumbai quashed reopening proceedings u/s 147 for AY 2011-12, ruling invalid approval u/s 151 due to non-application of mind. The alleged transaction dated 20/01/2010 pertained to AY 2010-11, not 2011-12, and involved a non-existent firm. For AY 2012-13 to 2018-19, additions of unexplained cash loans and interest were deleted as seized documents referenced different individuals (S.M. Joglekar, Ramesh Gala) with no established connection to the assessee. ITAT held no incriminating material existed against the assessee, deciding entirely in favour of the assessee. Case-Laws Income Tax Thu, 27 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766703