https://www.taxtmi.com/caselaws?id=278827 The Tribunal held that the initiation of re-assessment proceedings under Sections 147/148 was invalid due to lack of specific and tangible material. Consequently, the addition of Rs. 5,01,250/- was not justified, and interest charges under Sections 234B, 234C, and 234D were deemed irrelevant. The decision emphasized the necessity for the Assessing Officer to have specific and reliable information before initiating re-assessment proceedings. en-us Mon, 08 Jan 2018 00:00:00 +0530 Fri, 22 Feb 2019 06:06:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278827 The Tribunal held that the initiation of re-assessment proceedings under Sections 147/148 was invalid due to lack of specific and tangible material. Consequently, the addition of Rs. 5,01,250/- was not justified, and interest charges under Sections 234B, 234C, and 234D were deemed irrelevant. The decision emphasized the necessity for the Assessing Officer to have specific and reliable information before initiating re-assessment proceedings. Case-Laws Income Tax Mon, 08 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278827