https://www.taxtmi.com/caselaws?id=338840 The Tribunal quashed the reassessment proceedings under Section 143(3) read with Section 147 of the Income Tax Act, 1961, primarily due to the violation of principles of natural justice. The failure to provide the statement of Shri Mukesh Choksi and the opportunity for cross-examination was deemed a serious flaw, following the Supreme Court's decision in Andaman Timber Industries. Consequently, issues regarding the legality of the notice, assessment order, and the addition of undisclosed income were considered academic, leading to the appeal of the assessee being allowed. en-us Mon, 06 Feb 2017 00:00:00 +0530 Sat, 11 Feb 2017 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338840 The Tribunal quashed the reassessment proceedings under Section 143(3) read with Section 147 of the Income Tax Act, 1961, primarily due to the violation of principles of natural justice. The failure to provide the statement of Shri Mukesh Choksi and the opportunity for cross-examination was deemed a serious flaw, following the Supreme Court's decision in Andaman Timber Industries. Consequently, issues regarding the legality of the notice, assessment order, and the addition of undisclosed income were considered academic, leading to the appeal of the assessee being allowed. Case-Laws Income Tax Mon, 06 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338840