https://www.taxtmi.com/caselaws?id=278723 The Tribunal allowed the appeals filed by the assessee, holding that the reassessment proceedings initiated by the Assessing Officer were void ab initio. Consequently, the various additions made by the AO, including under Sections 69C, 68 for unexplained share application money, and unsecured loans, were not adjudicated on merits due to the invalidity of the reassessment. The Tribunal also noted the non-admission of additional evidence under Rule 46A and the violation of principles of natural justice. The appeals for both assessment years 2002-03 and 2003-04 were allowed based on the finding of the invalidity of the reassessment proceedings. en-us Fri, 29 Sep 2017 00:00:00 +0530 Tue, 19 Feb 2019 07:25:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278723 The Tribunal allowed the appeals filed by the assessee, holding that the reassessment proceedings initiated by the Assessing Officer were void ab initio. Consequently, the various additions made by the AO, including under Sections 69C, 68 for unexplained share application money, and unsecured loans, were not adjudicated on merits due to the invalidity of the reassessment. The Tribunal also noted the non-admission of additional evidence under Rule 46A and the violation of principles of natural justice. The appeals for both assessment years 2002-03 and 2003-04 were allowed based on the finding of the invalidity of the reassessment proceedings. Case-Laws Income Tax Fri, 29 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278723