https://www.taxtmi.com/caselaws?id=299540 The ITAT upheld the CIT(A)'s decision, dismissing the Revenue's appeal and the assessee's cross-objection. The reassessment proceedings initiated under Section 147/148 were deemed void ab-initio as they were beyond the four-year period without the assessee's failure to disclose material facts. The addition under Section 68 for share application money and share premium was unsupported by sufficient evidence, as the original assessment had already verified these amounts. The ITAT's ruling was issued on 24th May 2018. en-us Thu, 24 May 2018 00:00:00 +0530 Sun, 19 Dec 2021 09:06:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299540 The ITAT upheld the CIT(A)'s decision, dismissing the Revenue's appeal and the assessee's cross-objection. The reassessment proceedings initiated under Section 147/148 were deemed void ab-initio as they were beyond the four-year period without the assessee's failure to disclose material facts. The addition under Section 68 for share application money and share premium was unsupported by sufficient evidence, as the original assessment had already verified these amounts. The ITAT's ruling was issued on 24th May 2018. Case-Laws Income Tax Thu, 24 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299540