https://www.taxtmi.com/caselaws?id=353074 The tribunal quashed the reassessment proceedings initiated by the Assessing Officer under Section 147 read with Section 148 of the Income Tax Act due to the lack of independent application of mind and reliance solely on the Investigation Wing's report. As a result, the reassessment framed by the AO was deemed invalid, and the appeal of the assessee was allowed. No separate findings were provided on the issues related to additions of unexplained cash credit and share capital due to the quashing of the reassessment proceedings. en-us Wed, 20 Dec 2017 00:00:00 +0530 Wed, 27 Dec 2017 09:53:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353074 The tribunal quashed the reassessment proceedings initiated by the Assessing Officer under Section 147 read with Section 148 of the Income Tax Act due to the lack of independent application of mind and reliance solely on the Investigation Wing's report. As a result, the reassessment framed by the AO was deemed invalid, and the appeal of the assessee was allowed. No separate findings were provided on the issues related to additions of unexplained cash credit and share capital due to the quashing of the reassessment proceedings. Case-Laws Income Tax Wed, 20 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353074