https://www.taxtmi.com/caselaws?id=260428 The Tribunal upheld the validity of the reassessment notice, finding no legal or procedural infirmity in its issuance. The notice was deemed timely, meeting all procedural requirements. The Tribunal dismissed the appeal grounds challenging the AO's independent application of mind and alleged escapement of income. However, it allowed the grounds related to the addition of gift amounts to the assessee's income, directing the AO to verify the evidence provided. The appeal was partly allowed, with the Tribunal emphasizing the need for verification of the gifts received by the assessee. en-us Wed, 11 Mar 2015 00:00:00 +0530 Fri, 12 Jun 2015 05:54:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260428 The Tribunal upheld the validity of the reassessment notice, finding no legal or procedural infirmity in its issuance. The notice was deemed timely, meeting all procedural requirements. The Tribunal dismissed the appeal grounds challenging the AO's independent application of mind and alleged escapement of income. However, it allowed the grounds related to the addition of gift amounts to the assessee's income, directing the AO to verify the evidence provided. The appeal was partly allowed, with the Tribunal emphasizing the need for verification of the gifts received by the assessee. Case-Laws Income Tax Wed, 11 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260428