https://www.taxtmi.com/caselaws?id=374527 The Tribunal quashed the reassessment proceedings initiated under Section 147 and the notice issued under Section 148 due to the lack of independent application of mind by the Assessing Officer and mechanical approval by the competent authority under Section 151. Consequently, all subsequent proceedings, including the additions under Sections 68 and 69, were held invalid and unsustainable. The Tribunal emphasized the importance of AOs and approving authorities exercising independent judgment and providing detailed reasoning when initiating reassessment proceedings. en-us Fri, 28 Dec 2018 00:00:00 +0530 Mon, 04 Feb 2019 07:04:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374527 The Tribunal quashed the reassessment proceedings initiated under Section 147 and the notice issued under Section 148 due to the lack of independent application of mind by the Assessing Officer and mechanical approval by the competent authority under Section 151. Consequently, all subsequent proceedings, including the additions under Sections 68 and 69, were held invalid and unsustainable. The Tribunal emphasized the importance of AOs and approving authorities exercising independent judgment and providing detailed reasoning when initiating reassessment proceedings. Case-Laws Income Tax Fri, 28 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374527