https://www.taxtmi.com/caselaws?id=177645 The Tribunal held that the re-assessment proceedings initiated under Section 147/148 were not justified as the proper course of action should have been notice under Section 153C. The Tribunal quashed the re-assessment proceedings initiated by the AO. Regarding the addition of income based on alleged sham transactions and bogus capital gains, the Tribunal did not decide on the merits as the assessee succeeded on the legal ground. The appeal filed by the assessee was allowed, and the re-assessment proceedings initiated in other appeals were also quashed. en-us Wed, 21 Nov 2012 00:00:00 +0530 Fri, 09 Mar 2018 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177645 The Tribunal held that the re-assessment proceedings initiated under Section 147/148 were not justified as the proper course of action should have been notice under Section 153C. The Tribunal quashed the re-assessment proceedings initiated by the AO. Regarding the addition of income based on alleged sham transactions and bogus capital gains, the Tribunal did not decide on the merits as the assessee succeeded on the legal ground. The appeal filed by the assessee was allowed, and the re-assessment proceedings initiated in other appeals were also quashed. Case-Laws Income Tax Wed, 21 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177645