https://www.taxtmi.com/caselaws?id=377270 The Tribunal dismissed the Revenue's appeal, upholding the Ld. CIT(A)'s decision that the notice issued under Section 148 was void ab-initio due to the Assessing Officer's lack of due diligence and reliance on incorrect information. Additionally, the Tribunal deleted the addition made under Section 68, as the reassessment was deemed invalid and unjustified due to the AO's failure to independently verify facts. The Tribunal emphasized the importance of the AO conducting thorough inquiries and applying due diligence in reassessment proceedings. en-us Tue, 22 Jan 2019 00:00:00 +0530 Wed, 27 Mar 2019 06:08:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377270 The Tribunal dismissed the Revenue's appeal, upholding the Ld. CIT(A)'s decision that the notice issued under Section 148 was void ab-initio due to the Assessing Officer's lack of due diligence and reliance on incorrect information. Additionally, the Tribunal deleted the addition made under Section 68, as the reassessment was deemed invalid and unjustified due to the AO's failure to independently verify facts. The Tribunal emphasized the importance of the AO conducting thorough inquiries and applying due diligence in reassessment proceedings. Case-Laws Income Tax Tue, 22 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377270