https://www.taxtmi.com/caselaws?id=298158 The tribunal held that the initiation of re-assessment proceedings under section 147 of the Act was incorrect, and the reassessment was deemed void ab initio. The addition of alleged purchases of bogus material and commission payment was quashed along with the reassessment. The tribunal emphasized the application of section 153C instead of section 147 and deemed the grounds for the addition of the amount inconsequential. Consequently, the assessee's appeal was allowed, and the reassessment proceedings were directed to be quashed. en-us Fri, 21 Apr 2017 00:00:00 +0530 Sat, 16 Oct 2021 09:02:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298158 The tribunal held that the initiation of re-assessment proceedings under section 147 of the Act was incorrect, and the reassessment was deemed void ab initio. The addition of alleged purchases of bogus material and commission payment was quashed along with the reassessment. The tribunal emphasized the application of section 153C instead of section 147 and deemed the grounds for the addition of the amount inconsequential. Consequently, the assessee's appeal was allowed, and the reassessment proceedings were directed to be quashed. Case-Laws Income Tax Fri, 21 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298158