https://www.taxtmi.com/caselaws?id=434330 The Tribunal ruled in favor of the assessee, directing the deletion of the protective addition and enhancement made under section 69C. It emphasized the necessity of corresponding substantive assessments for protective additions, citing precedents that deemed such additions invalid without substantive assessments. The Tribunal also highlighted the jurisdictional limitations of the Assessing Officer in converting protective additions into substantive ones post-assessment without proper legal authority. Additionally, it stressed the importance of adherence to principles of natural justice in conducting assessments. The appeals were allowed, and stay applications were dismissed. en-us Thu, 16 Feb 2023 00:00:00 +0530 Wed, 22 Feb 2023 18:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434330 The Tribunal ruled in favor of the assessee, directing the deletion of the protective addition and enhancement made under section 69C. It emphasized the necessity of corresponding substantive assessments for protective additions, citing precedents that deemed such additions invalid without substantive assessments. The Tribunal also highlighted the jurisdictional limitations of the Assessing Officer in converting protective additions into substantive ones post-assessment without proper legal authority. Additionally, it stressed the importance of adherence to principles of natural justice in conducting assessments. The appeals were allowed, and stay applications were dismissed. Case-Laws Income Tax Thu, 16 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434330