https://www.taxtmi.com/caselaws?id=277699 The Tribunal invalidated the reassessment proceedings under Section 147/148 of the Income Tax Act due to lack of independent application of mind by the Assessing Officer and improper sanction from an unauthorized authority. Additionally, the Tribunal deleted the disallowance of purchases as unexplained expenditure, finding that the assessee had adequately proven the genuineness of the transactions. The appeals of the assessees were allowed, and the revenue's appeal was dismissed in the consolidated order for multiple assessment years. en-us Wed, 27 Sep 2017 00:00:00 +0530 Wed, 19 Dec 2018 06:48:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277699 The Tribunal invalidated the reassessment proceedings under Section 147/148 of the Income Tax Act due to lack of independent application of mind by the Assessing Officer and improper sanction from an unauthorized authority. Additionally, the Tribunal deleted the disallowance of purchases as unexplained expenditure, finding that the assessee had adequately proven the genuineness of the transactions. The appeals of the assessees were allowed, and the revenue's appeal was dismissed in the consolidated order for multiple assessment years. Case-Laws Income Tax Wed, 27 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277699