https://www.taxtmi.com/caselaws?id=432157 The tribunal partly allowed the appeal by vacating the addition of Rs.15,58,000/- made under section 68 and the disallowance of Rs.45,861/- made under section 14A. The tribunal upheld the validity of the jurisdiction assumed by the Assessing Officer and the assessment proceedings, rejecting the other grounds raised by the assessee. The notice issued under section 148 was deemed valid, and the sanction granted by the Principal Commissioner of Income Tax for reassessment proceedings was upheld as not being mechanical. en-us Mon, 26 Dec 2022 00:00:00 +0530 Thu, 29 Dec 2022 09:13:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432157 The tribunal partly allowed the appeal by vacating the addition of Rs.15,58,000/- made under section 68 and the disallowance of Rs.45,861/- made under section 14A. The tribunal upheld the validity of the jurisdiction assumed by the Assessing Officer and the assessment proceedings, rejecting the other grounds raised by the assessee. The notice issued under section 148 was deemed valid, and the sanction granted by the Principal Commissioner of Income Tax for reassessment proceedings was upheld as not being mechanical. Case-Laws Income Tax Mon, 26 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432157