https://www.taxtmi.com/caselaws?id=393573 The High Court upheld the initiation of proceedings under Section 147 of the Income Tax Act for the assessment year 2002-03, emphasizing that the notice served is a precondition for assessment order but not to confer jurisdiction. The Tribunal upheld additions for undisclosed purchases and unexplained expenditure due to the assessee's failure to provide evidence, with the CIT(A) and Tribunal finding no infirmity in the lower authorities' decisions. For the assessment year 2003-04, the Tribunal dismissed the appeal, maintaining consistency with the decisions for 2002-03, resulting in the dismissal of both appeals and upholding the additions made by the AO and CIT(A). en-us Tue, 17 Mar 2020 00:00:00 +0530 Thu, 19 Mar 2020 11:12:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393573 The High Court upheld the initiation of proceedings under Section 147 of the Income Tax Act for the assessment year 2002-03, emphasizing that the notice served is a precondition for assessment order but not to confer jurisdiction. The Tribunal upheld additions for undisclosed purchases and unexplained expenditure due to the assessee's failure to provide evidence, with the CIT(A) and Tribunal finding no infirmity in the lower authorities' decisions. For the assessment year 2003-04, the Tribunal dismissed the appeal, maintaining consistency with the decisions for 2002-03, resulting in the dismissal of both appeals and upholding the additions made by the AO and CIT(A). Case-Laws Income Tax Tue, 17 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393573