https://www.taxtmi.com/caselaws?id=265523 The Tribunal ruled in favor of the Assessee, quashing the reassessment proceedings due to lack of tangible evidence and failure to comply with legal provisions. The Tribunal found that the enhancement made under sec. 148 and the additions under sec. 68 were not justified, emphasizing the importance of proper opportunity and legal procedures in such proceedings. The Tribunal's decision aligned with previous judgments by the Jurisdictional High Court, supporting the Assessee's arguments and ultimately ruling against the Revenue. en-us Fri, 19 Dec 2014 00:00:00 +0530 Tue, 13 Oct 2015 06:36:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265523 The Tribunal ruled in favor of the Assessee, quashing the reassessment proceedings due to lack of tangible evidence and failure to comply with legal provisions. The Tribunal found that the enhancement made under sec. 148 and the additions under sec. 68 were not justified, emphasizing the importance of proper opportunity and legal procedures in such proceedings. The Tribunal's decision aligned with previous judgments by the Jurisdictional High Court, supporting the Assessee's arguments and ultimately ruling against the Revenue. Case-Laws Income Tax Fri, 19 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265523