https://www.taxtmi.com/caselaws?id=280970 The Tribunal quashed the assessment initiated under Sections 147/143(3) of the Income Tax Act, finding the initiation and assessment to be without jurisdiction due to lack of independent application of mind by the Assessing Officer. The notice issued under Section 148 was deemed invalid as it lacked valid reasons to believe income had escaped assessment. The addition of Rs. 21,00,000 representing alleged donation for MBBS admission was also set aside due to arbitrary assumptions and lack of tangible material. The levy of interest under Sections 234A and 234B was not addressed as the primary assessment was quashed. The appeal by the assessee was allowed, and the stay application was dismissed as infructuous. en-us Fri, 16 Mar 2018 00:00:00 +0530 Wed, 29 May 2019 06:54:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280970 The Tribunal quashed the assessment initiated under Sections 147/143(3) of the Income Tax Act, finding the initiation and assessment to be without jurisdiction due to lack of independent application of mind by the Assessing Officer. The notice issued under Section 148 was deemed invalid as it lacked valid reasons to believe income had escaped assessment. The addition of Rs. 21,00,000 representing alleged donation for MBBS admission was also set aside due to arbitrary assumptions and lack of tangible material. The levy of interest under Sections 234A and 234B was not addressed as the primary assessment was quashed. The appeal by the assessee was allowed, and the stay application was dismissed as infructuous. Case-Laws Income Tax Fri, 16 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280970