https://www.taxtmi.com/caselaws?id=297263 The Tribunal partly allowed the appeal by quashing the reassessment proceedings due to inadequate reasons recorded by the Assessing Officer. Grounds 2 and 3 were upheld, while grounds 1, 4 to 7 were dismissed. The addition of Rs. 20 lakhs under Section 68 and commission payment of Rs. 3,600 were nullified as the reassessment was annulled. en-us Tue, 10 Nov 2020 00:00:00 +0530 Wed, 25 Aug 2021 09:06:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297263 The Tribunal partly allowed the appeal by quashing the reassessment proceedings due to inadequate reasons recorded by the Assessing Officer. Grounds 2 and 3 were upheld, while grounds 1, 4 to 7 were dismissed. The addition of Rs. 20 lakhs under Section 68 and commission payment of Rs. 3,600 were nullified as the reassessment was annulled. Case-Laws Income Tax Tue, 10 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297263