https://www.taxtmi.com/caselaws?id=326417 The Tribunal quashed the reassessment order under section 147 of the I.T. Act as no additions were made on the income believed to have escaped assessment, rendering the reassessment invalid. Consequently, the Tribunal found the AO lacked jurisdiction to independently assess other incomes. The Tribunal did not address the merits of additions under section 68 due to the reassessment order's quashing. As a result, the appeal of the assessee was allowed, and the reassessment order was invalidated. en-us Tue, 05 Apr 2016 00:00:00 +0530 Thu, 14 Apr 2016 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326417 The Tribunal quashed the reassessment order under section 147 of the I.T. Act as no additions were made on the income believed to have escaped assessment, rendering the reassessment invalid. Consequently, the Tribunal found the AO lacked jurisdiction to independently assess other incomes. The Tribunal did not address the merits of additions under section 68 due to the reassessment order's quashing. As a result, the appeal of the assessee was allowed, and the reassessment order was invalidated. Case-Laws Income Tax Tue, 05 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326417