https://www.taxtmi.com/caselaws?id=367801 The Tribunal invalidated the initiation of proceedings under section 147 of the Income Tax Act due to mechanical recording of reasons and lack of valid approval. The reassessment proceedings were quashed as they were based on invalid reasons. Additionally, the Tribunal upheld the deletion of the substantial addition on account of alleged suppression of sales of aluminum dross, citing lack of concrete evidence and unsupported presumptions by the Assessing Officer. The Tribunal dismissed the Revenue's appeal and affirmed the CIT(A)'s decision in favor of the Assessee. en-us Thu, 19 Jul 2018 00:00:00 +0530 Mon, 01 Oct 2018 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367801 The Tribunal invalidated the initiation of proceedings under section 147 of the Income Tax Act due to mechanical recording of reasons and lack of valid approval. The reassessment proceedings were quashed as they were based on invalid reasons. Additionally, the Tribunal upheld the deletion of the substantial addition on account of alleged suppression of sales of aluminum dross, citing lack of concrete evidence and unsupported presumptions by the Assessing Officer. The Tribunal dismissed the Revenue's appeal and affirmed the CIT(A)'s decision in favor of the Assessee. Case-Laws Income Tax Thu, 19 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367801