https://www.taxtmi.com/caselaws?id=400647 The Tribunal quashed the reassessment proceedings initiated under sections 147/148 of the Income Tax Act due to non-application of mind by the Assessing Officer (AO), mechanical approval by superior authorities, and the absence of any allegation of failure to disclose material facts fully and truly. Consequently, the grounds challenging the addition of Rs. 39,00,055/- under section 68 as unexplained cash credit were not adjudicated. The appeal filed by the assessee was allowed. en-us Fri, 31 Jul 2020 00:00:00 +0530 Thu, 12 Nov 2020 12:20:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400647 The Tribunal quashed the reassessment proceedings initiated under sections 147/148 of the Income Tax Act due to non-application of mind by the Assessing Officer (AO), mechanical approval by superior authorities, and the absence of any allegation of failure to disclose material facts fully and truly. Consequently, the grounds challenging the addition of Rs. 39,00,055/- under section 68 as unexplained cash credit were not adjudicated. The appeal filed by the assessee was allowed. Case-Laws Income Tax Fri, 31 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400647