https://www.taxtmi.com/caselaws?id=194533 The Tribunal invalidated the reassessment due to non-compliance with mandatory satisfaction requirements under Sections 147 to 151 of the Income Tax Act, allowing the assessee's cross-objection. Additionally, the Tribunal upheld the deletion of Rs. 10.50 lakhs under Section 68 as the assessee provided ample documentation and the Assessing Officer failed to adequately verify the shareholders. Consequently, the Tribunal dismissed the Revenue's appeal and allowed the assessee's cross-objection. en-us Wed, 25 Feb 2015 00:00:00 +0530 Tue, 12 Sep 2017 21:47:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194533 The Tribunal invalidated the reassessment due to non-compliance with mandatory satisfaction requirements under Sections 147 to 151 of the Income Tax Act, allowing the assessee's cross-objection. Additionally, the Tribunal upheld the deletion of Rs. 10.50 lakhs under Section 68 as the assessee provided ample documentation and the Assessing Officer failed to adequately verify the shareholders. Consequently, the Tribunal dismissed the Revenue's appeal and allowed the assessee's cross-objection. Case-Laws Income Tax Wed, 25 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194533