https://www.taxtmi.com/caselaws?id=381168 The Tribunal quashed the reassessment proceedings initiated under section 148 due to lack of valid reasons and application of mind by the AO. Consequently, the addition under section 68 and the penalty under section 271(1)(c) were rendered invalid. The appeals filed by the assessee were allowed, and the AO was directed to delete the penalty. en-us Mon, 03 Jun 2019 00:00:00 +0530 Tue, 04 Jun 2019 16:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381168 The Tribunal quashed the reassessment proceedings initiated under section 148 due to lack of valid reasons and application of mind by the AO. Consequently, the addition under section 68 and the penalty under section 271(1)(c) were rendered invalid. The appeals filed by the assessee were allowed, and the AO was directed to delete the penalty. Case-Laws Income Tax Mon, 03 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381168