https://www.taxtmi.com/caselaws?id=406053 The Tribunal quashed the reassessment proceedings initiated by the Assessing Officer under Section 147 of the Income Tax Act, citing non-application of mind and reliance on non-existent facts. Consequently, the additions made under Section 68 and for alleged expenditure on obtaining accommodation entry were invalidated. The appeal of the assessee was allowed, and the returned income declared by the assessee was implied to be restored. en-us Wed, 24 Mar 2021 00:00:00 +0530 Mon, 05 Apr 2021 09:21:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406053 The Tribunal quashed the reassessment proceedings initiated by the Assessing Officer under Section 147 of the Income Tax Act, citing non-application of mind and reliance on non-existent facts. Consequently, the additions made under Section 68 and for alleged expenditure on obtaining accommodation entry were invalidated. The appeal of the assessee was allowed, and the returned income declared by the assessee was implied to be restored. Case-Laws Income Tax Wed, 24 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406053