https://www.taxtmi.com/caselaws?id=272133 The Tribunal invalidated the initiation of proceedings and issuance of notices under Section 147/148 of the Income Tax Act due to lack of proper sanction and application of mind by the sanctioning authority. Consequently, the reassessment orders passed under Section 143(3) read with Section 147 were also deemed invalid. The Tribunal upheld the CIT(A)'s deletion of additions made under Section 68, rendering the Revenue's appeals moot. The assessee's cross objections were allowed, leading to the dismissal of the Revenue's appeals. en-us Wed, 24 Feb 2016 00:00:00 +0530 Fri, 26 Feb 2016 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272133 The Tribunal invalidated the initiation of proceedings and issuance of notices under Section 147/148 of the Income Tax Act due to lack of proper sanction and application of mind by the sanctioning authority. Consequently, the reassessment orders passed under Section 143(3) read with Section 147 were also deemed invalid. The Tribunal upheld the CIT(A)'s deletion of additions made under Section 68, rendering the Revenue's appeals moot. The assessee's cross objections were allowed, leading to the dismissal of the Revenue's appeals. Case-Laws Income Tax Wed, 24 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272133