https://www.taxtmi.com/caselaws?id=410480 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order quashing the assessment made under Section 147 of the I.T. Act. The Tribunal found that the Assessing Officer had not applied independent judgment, relied on incorrect information, and made a protective assessment without a substantive basis. The additions for unexplained cash credits and brokerage were deleted, and the initiation of action under Section 147 was deemed invalid. en-us Fri, 09 Jul 2021 00:00:00 +0530 Mon, 02 Aug 2021 12:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410480 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order quashing the assessment made under Section 147 of the I.T. Act. The Tribunal found that the Assessing Officer had not applied independent judgment, relied on incorrect information, and made a protective assessment without a substantive basis. The additions for unexplained cash credits and brokerage were deleted, and the initiation of action under Section 147 was deemed invalid. Case-Laws Income Tax Fri, 09 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410480