https://www.taxtmi.com/caselaws?id=262018 The Tribunal dismissed the Revenue's appeal regarding the deletion of additions for AY 2002-03, specifically on account of negative cash balance and unexplained receipts. The Tribunal found procedural irregularities in the Assessing Officer's actions, as objections raised by the assessee were not addressed before reassessment. Following legal precedents and a decision by the Hon'ble Gujarat High Court, the Tribunal upheld the CIT(A)'s decision to delete the additions and quashed the reassessment proceedings, rendering the Revenue's arguments moot. en-us Tue, 30 Jun 2015 00:00:00 +0530 Thu, 30 Jul 2015 09:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262018 The Tribunal dismissed the Revenue's appeal regarding the deletion of additions for AY 2002-03, specifically on account of negative cash balance and unexplained receipts. The Tribunal found procedural irregularities in the Assessing Officer's actions, as objections raised by the assessee were not addressed before reassessment. Following legal precedents and a decision by the Hon'ble Gujarat High Court, the Tribunal upheld the CIT(A)'s decision to delete the additions and quashed the reassessment proceedings, rendering the Revenue's arguments moot. Case-Laws Income Tax Tue, 30 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262018