https://www.taxtmi.com/caselaws?id=331951 The Tribunal upheld the quashing of proceedings under section 147 of the Income Tax Act due to the Assessing Officer's lack of independent assessment. The deletion of the addition of Rs. 95,65,510 on account of accommodation entries was not addressed as the reassessment proceedings were quashed. The cross objection on issuing two notices under section 148 was withdrawn and dismissed. The delay in filing the Revenue's appeal was condoned, and the appeal was admitted. The decision was announced on 29th July 2016. en-us Fri, 29 Jul 2016 00:00:00 +0530 Tue, 06 Sep 2016 13:23:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331951 The Tribunal upheld the quashing of proceedings under section 147 of the Income Tax Act due to the Assessing Officer's lack of independent assessment. The deletion of the addition of Rs. 95,65,510 on account of accommodation entries was not addressed as the reassessment proceedings were quashed. The cross objection on issuing two notices under section 148 was withdrawn and dismissed. The delay in filing the Revenue's appeal was condoned, and the appeal was admitted. The decision was announced on 29th July 2016. Case-Laws Income Tax Fri, 29 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331951