https://www.taxtmi.com/caselaws?id=407463 The Tribunal allowed the assessee's appeal and quashed the reassessment proceedings initiated by the Assessing Officer (AO) under Section 147 due to the invalid initiation based on borrowed satisfaction. The Tribunal did not adjudicate on the legitimacy of the addition of Rs. 20,00,000 under Section 68 as the issue became academic following the quashing of the reassessment proceedings. en-us Fri, 16 Apr 2021 00:00:00 +0530 Wed, 12 May 2021 08:28:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407463 The Tribunal allowed the assessee's appeal and quashed the reassessment proceedings initiated by the Assessing Officer (AO) under Section 147 due to the invalid initiation based on borrowed satisfaction. The Tribunal did not adjudicate on the legitimacy of the addition of Rs. 20,00,000 under Section 68 as the issue became academic following the quashing of the reassessment proceedings. Case-Laws Income Tax Fri, 16 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407463