https://www.taxtmi.com/caselaws?id=402266 The Tribunal allowed all appeals, ruling that the reassessment proceedings under Section 147 were invalid, the addition of Rs. 1,44,24,000 as income under "Salaries" was not justified, and the value of the benefit should not be determined based on FMV. The Tribunal found the orders passed by the Assessing Officer and the Commissioner of Income Tax (Appeals) to be void ab initio and bad in law due to lack of independent application of mind and incorrect interpretation of statutory provisions. en-us Mon, 21 Dec 2020 00:00:00 +0530 Thu, 05 May 2022 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402266 The Tribunal allowed all appeals, ruling that the reassessment proceedings under Section 147 were invalid, the addition of Rs. 1,44,24,000 as income under "Salaries" was not justified, and the value of the benefit should not be determined based on FMV. The Tribunal found the orders passed by the Assessing Officer and the Commissioner of Income Tax (Appeals) to be void ab initio and bad in law due to lack of independent application of mind and incorrect interpretation of statutory provisions. Case-Laws Income Tax Mon, 21 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402266