https://www.taxtmi.com/caselaws?id=282432 The tribunal invalidated the initiation of proceedings under Section 153C of the Income Tax Act due to a defective satisfaction note and lack of incriminating evidence. Consequently, the assessment proceedings under Section 153C were quashed. The tribunal did not address the addition of Rs. 90,00,000 as share capital under Section 68, as the invalidation of the Section 153C proceedings sufficed to dispose of the appeal. The decision was pronounced on 18th July 2018. en-us Wed, 18 Jul 2018 00:00:00 +0530 Wed, 07 Aug 2019 18:45:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282432 The tribunal invalidated the initiation of proceedings under Section 153C of the Income Tax Act due to a defective satisfaction note and lack of incriminating evidence. Consequently, the assessment proceedings under Section 153C were quashed. The tribunal did not address the addition of Rs. 90,00,000 as share capital under Section 68, as the invalidation of the Section 153C proceedings sufficed to dispose of the appeal. The decision was pronounced on 18th July 2018. Case-Laws Income Tax Wed, 18 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282432