https://www.taxtmi.com/caselaws?id=356219 The appellant challenged the treatment of share application moneys as undisclosed income, citing legal precedents and supporting documentation. The reassessment for the year 2000-01, based on an investigation report, was contested due to lack of tangible material for reopening. The Tribunal found the reassessment proceedings invalid, as they were solely reliant on the investigation report without additional incriminating evidence. The absence of tangible material post-assessment rendered the reopening notice invalid, leading to the quashing of assessment proceedings and allowing the appeal by the assessee company. en-us Wed, 21 Feb 2018 00:00:00 +0530 Tue, 27 Feb 2018 07:12:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356219 The appellant challenged the treatment of share application moneys as undisclosed income, citing legal precedents and supporting documentation. The reassessment for the year 2000-01, based on an investigation report, was contested due to lack of tangible material for reopening. The Tribunal found the reassessment proceedings invalid, as they were solely reliant on the investigation report without additional incriminating evidence. The absence of tangible material post-assessment rendered the reopening notice invalid, leading to the quashing of assessment proceedings and allowing the appeal by the assessee company. Case-Laws Income Tax Wed, 21 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356219