https://www.taxtmi.com/caselaws?id=272975 The Tribunal upheld the validity of the reassessment proceedings under section 147 of the Income Tax Act, 1961, based on information indicating potential income escapement. However, the Tribunal ruled in favor of the assessee regarding the addition of share application money under section 68, as the Assessing Officer failed to adequately verify the documentation provided, violating principles of natural justice. The Tribunal allowed the appeal partially, deleting the addition made under section 68. en-us Wed, 28 Mar 2018 00:00:00 +0530 Tue, 29 May 2018 08:25:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272975 The Tribunal upheld the validity of the reassessment proceedings under section 147 of the Income Tax Act, 1961, based on information indicating potential income escapement. However, the Tribunal ruled in favor of the assessee regarding the addition of share application money under section 68, as the Assessing Officer failed to adequately verify the documentation provided, violating principles of natural justice. The Tribunal allowed the appeal partially, deleting the addition made under section 68. Case-Laws Income Tax Wed, 28 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272975