https://www.taxtmi.com/caselaws?id=360454 The ITAT allowed the appeal, quashing the reassessment proceedings and deleting the addition of Rs. 10 lakhs received from M/s. Hill Ridge Investment Ltd. on account of share capital for A.Y. 2006-2007 under section 68 of the I.T. Act. This decision was based on the invalidity of the notice issued under section 143(2), as it was determined that the AO did not validly assume jurisdiction under sections 147 and 143(3) due to procedural errors in the issuance of notices. en-us Mon, 14 May 2018 00:00:00 +0530 Thu, 17 May 2018 05:56:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360454 The ITAT allowed the appeal, quashing the reassessment proceedings and deleting the addition of Rs. 10 lakhs received from M/s. Hill Ridge Investment Ltd. on account of share capital for A.Y. 2006-2007 under section 68 of the I.T. Act. This decision was based on the invalidity of the notice issued under section 143(2), as it was determined that the AO did not validly assume jurisdiction under sections 147 and 143(3) due to procedural errors in the issuance of notices. Case-Laws Income Tax Mon, 14 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360454