https://www.taxtmi.com/caselaws?id=776160 The ITAT Kolkata held that the reopening of the assessment under section 147 was invalid and void ab initio due to the AO's failure to conduct an independent inquiry, relying solely on information from the PCIT Investigation without applying independent mind. The tribunal found the reassessment to be based on borrowed satisfaction, referencing precedents that supported the assessee's position. Consequently, the appeal was allowed, and the reopening was quashed. en-us Thu, 02 Jan 2025 00:00:00 +0530 Wed, 06 Aug 2025 08:19:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776160 The ITAT Kolkata held that the reopening of the assessment under section 147 was invalid and void ab initio due to the AO's failure to conduct an independent inquiry, relying solely on information from the PCIT Investigation without applying independent mind. The tribunal found the reassessment to be based on borrowed satisfaction, referencing precedents that supported the assessee's position. Consequently, the appeal was allowed, and the reopening was quashed. Case-Laws Income Tax Thu, 02 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776160