https://www.taxtmi.com/caselaws?id=174324 The Tribunal dismissed the revenue's appeals, affirming the invalidity of the reassessment proceedings under Section 147 due to insufficient and vague reasons recorded by the AO. The Tribunal upheld the CIT(A)'s decision, emphasizing the necessity for a rational connection between the information received and the belief of income escapement. Consequently, the legitimacy of the additions made by the AO on account of share capital money was not addressed, rendering the issue redundant. The decision was pronounced on 12th October 2011. en-us Wed, 12 Oct 2011 00:00:00 +0530 Fri, 22 Sep 2017 12:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174324 The Tribunal dismissed the revenue's appeals, affirming the invalidity of the reassessment proceedings under Section 147 due to insufficient and vague reasons recorded by the AO. The Tribunal upheld the CIT(A)'s decision, emphasizing the necessity for a rational connection between the information received and the belief of income escapement. Consequently, the legitimacy of the additions made by the AO on account of share capital money was not addressed, rendering the issue redundant. The decision was pronounced on 12th October 2011. Case-Laws Income Tax Wed, 12 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174324