https://www.taxtmi.com/caselaws?id=351324 The Tribunal partially allowed the appeal in I.T. (SS) A. No. 50/Mum./2008 for statistical purposes and fully allowed the appeal in I.T. (SS) A. No. 5/Mum./2011 for statistical purposes. The Tribunal directed the Assessing Officer to re-examine the issues, including the validity of the assessment under section 158BD and the addition of Rs. 3,50,52,020 based on credit entries in bank accounts, ensuring compliance with the principles of natural justice and legal requirements. The imposition of penalty under section 158BFA(2) was linked to the addition amount and was restored to the Assessing Officer for reconsideration pending the outcome of the quantum proceedings. en-us Tue, 19 Sep 2017 00:00:00 +0530 Thu, 23 Nov 2017 13:34:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351324 The Tribunal partially allowed the appeal in I.T. (SS) A. No. 50/Mum./2008 for statistical purposes and fully allowed the appeal in I.T. (SS) A. No. 5/Mum./2011 for statistical purposes. The Tribunal directed the Assessing Officer to re-examine the issues, including the validity of the assessment under section 158BD and the addition of Rs. 3,50,52,020 based on credit entries in bank accounts, ensuring compliance with the principles of natural justice and legal requirements. The imposition of penalty under section 158BFA(2) was linked to the addition amount and was restored to the Assessing Officer for reconsideration pending the outcome of the quantum proceedings. Case-Laws Income Tax Tue, 19 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351324