https://www.taxtmi.com/caselaws?id=391642 The Tribunal allowed the appeals in favor of the assessee for assessment years 1998-99, 1999-2000, 2001-02, and 2004-05. The Tribunal held that the assessment orders were invalid due to incorrect initiation of proceedings under section 153A and 153C instead of solely under section 153A. The addition of unexplained cash credit under section 68 was deemed unwarranted as the cash component should have been taxed in a prior year. The protective basis addition under sections 160 and 163 was also directed to be deleted as no separate notice was issued and no substantive addition was justified. en-us Thu, 30 Jan 2020 00:00:00 +0530 Mon, 03 Feb 2020 13:18:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391642 The Tribunal allowed the appeals in favor of the assessee for assessment years 1998-99, 1999-2000, 2001-02, and 2004-05. The Tribunal held that the assessment orders were invalid due to incorrect initiation of proceedings under section 153A and 153C instead of solely under section 153A. The addition of unexplained cash credit under section 68 was deemed unwarranted as the cash component should have been taxed in a prior year. The protective basis addition under sections 160 and 163 was also directed to be deleted as no separate notice was issued and no substantive addition was justified. Case-Laws Income Tax Thu, 30 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391642