https://www.taxtmi.com/caselaws?id=216584 The Tribunal held that the Assessing Officer exceeded jurisdiction by adding unrelated income under section 68 of the Income Tax Act, 1961, during proceedings initiated under section 147. The Tribunal invalidated the notice issued under section 148 for both the unsecured loan and gift, ruling the assessments as lacking merit and beyond the statutory time limit, leading to the quashing of the assessments under sections 143(3)/147. The Tribunal emphasized the necessity to meet conditions of section 147 for reopening cases and dismissed the appeal regarding the assessment order being time-barred. en-us Fri, 29 Jun 2012 00:00:00 +0530 Thu, 30 Aug 2012 13:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216584 The Tribunal held that the Assessing Officer exceeded jurisdiction by adding unrelated income under section 68 of the Income Tax Act, 1961, during proceedings initiated under section 147. The Tribunal invalidated the notice issued under section 148 for both the unsecured loan and gift, ruling the assessments as lacking merit and beyond the statutory time limit, leading to the quashing of the assessments under sections 143(3)/147. The Tribunal emphasized the necessity to meet conditions of section 147 for reopening cases and dismissed the appeal regarding the assessment order being time-barred. Case-Laws Income Tax Fri, 29 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216584