https://www.taxtmi.com/caselaws?id=437674 The Tribunal ruled in favor of the assessee, holding that the Assessing Officer's decision to tax additional income at a flat rate under section 115BBE was legally unsound as there was no proper determination of unexplained income under relevant sections. The Tribunal emphasized the necessity for the Assessing Officer to record satisfaction before invoking specific tax provisions. Consequently, the Tribunal quashed the proceedings under section 154, allowing the appeal of the assessee against the order passed for the assessment year 2015-16. en-us Tue, 09 May 2023 00:00:00 +0530 Fri, 12 May 2023 08:28:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437674 The Tribunal ruled in favor of the assessee, holding that the Assessing Officer's decision to tax additional income at a flat rate under section 115BBE was legally unsound as there was no proper determination of unexplained income under relevant sections. The Tribunal emphasized the necessity for the Assessing Officer to record satisfaction before invoking specific tax provisions. Consequently, the Tribunal quashed the proceedings under section 154, allowing the appeal of the assessee against the order passed for the assessment year 2015-16. Case-Laws Income Tax Tue, 09 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437674