https://www.taxtmi.com/caselaws?id=181639 The appeal challenging the validity of reassessment proceedings and the addition of Rs. 1,45,125 for allegedly bogus shares was successful. The Tribunal, following a previous decision, deleted the Rs. 1,45,125 addition due to lack of evidence against the assessee, emphasizing the absence of crucial witness statements and cross-examination. As a result, the reassessment proceedings' validity issue became moot. The decision in favor of the assessee was rendered on November 27, 2014. en-us Thu, 27 Nov 2014 00:00:00 +0530 Thu, 21 Apr 2016 10:22:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181639 The appeal challenging the validity of reassessment proceedings and the addition of Rs. 1,45,125 for allegedly bogus shares was successful. The Tribunal, following a previous decision, deleted the Rs. 1,45,125 addition due to lack of evidence against the assessee, emphasizing the absence of crucial witness statements and cross-examination. As a result, the reassessment proceedings' validity issue became moot. The decision in favor of the assessee was rendered on November 27, 2014. Case-Laws Income Tax Thu, 27 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181639