https://www.taxtmi.com/caselaws?id=266892 The Tribunal consolidated appeals against separate orders of CIT(A) for AY 2004-05 due to common issues. The Assessee's challenges to the legality of notice u/s 148 and initiation of reassessment proceedings u/s 147 were upheld. The impugned assessment order was deemed illegal, and the addition of unexplained cash credit u/s 68 was disputed. The Tribunal quashed the reassessment proceedings, emphasizing the need for valid reasons and evidence. Upholding principles of natural justice, the Tribunal favored the Assessee and allowed both appeals, stressing the importance of legal grounds and procedural fairness in assessments. en-us Thu, 24 Sep 2015 00:00:00 +0530 Tue, 27 Oct 2015 08:26:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266892 The Tribunal consolidated appeals against separate orders of CIT(A) for AY 2004-05 due to common issues. The Assessee's challenges to the legality of notice u/s 148 and initiation of reassessment proceedings u/s 147 were upheld. The impugned assessment order was deemed illegal, and the addition of unexplained cash credit u/s 68 was disputed. The Tribunal quashed the reassessment proceedings, emphasizing the need for valid reasons and evidence. Upholding principles of natural justice, the Tribunal favored the Assessee and allowed both appeals, stressing the importance of legal grounds and procedural fairness in assessments. Case-Laws Income Tax Thu, 24 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266892