https://www.taxtmi.com/caselaws?id=334723 The Tribunal directed the Assessing Officer to conduct a fresh inquiry into the receipt of share capital and premium, emphasizing the need for a thorough investigation. The Tribunal found that the order passed under section 263 lacked sufficient material and directed a fresh inquiry after affording the Assessee an opportunity to be heard. The importance of providing an opportunity to be heard and communicating reasons for initiating proceedings was underscored, with the Tribunal partially allowing the appeal and highlighting the need for a proper opportunity for the Assessee to present their case. en-us Wed, 10 Aug 2016 00:00:00 +0530 Sat, 19 Nov 2016 12:03:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334723 The Tribunal directed the Assessing Officer to conduct a fresh inquiry into the receipt of share capital and premium, emphasizing the need for a thorough investigation. The Tribunal found that the order passed under section 263 lacked sufficient material and directed a fresh inquiry after affording the Assessee an opportunity to be heard. The importance of providing an opportunity to be heard and communicating reasons for initiating proceedings was underscored, with the Tribunal partially allowing the appeal and highlighting the need for a proper opportunity for the Assessee to present their case. Case-Laws Income Tax Wed, 10 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334723