https://www.taxtmi.com/caselaws?id=440123 The Tribunal allowed the appeals for statistical purposes, remitting the cases back to the AO for further adjudication. The appellant's challenge regarding the validity of the notice under section 148 and approval under section 151 was withdrawn during the hearing. The Tribunal found the assessment based solely on a CBI report and loose papers, without considering the books of accounts, to be in violation of natural justice. Incorrect attribution of bank accounts and subsequent additions were deemed arbitrary, leading to directions for reassessment with proper verification. The Tribunal emphasized providing the appellant with a fair opportunity to present their case and consider all relevant documents. en-us Fri, 12 May 2023 00:00:00 +0530 Tue, 11 Jul 2023 08:29:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440123 The Tribunal allowed the appeals for statistical purposes, remitting the cases back to the AO for further adjudication. The appellant's challenge regarding the validity of the notice under section 148 and approval under section 151 was withdrawn during the hearing. The Tribunal found the assessment based solely on a CBI report and loose papers, without considering the books of accounts, to be in violation of natural justice. Incorrect attribution of bank accounts and subsequent additions were deemed arbitrary, leading to directions for reassessment with proper verification. The Tribunal emphasized providing the appellant with a fair opportunity to present their case and consider all relevant documents. Case-Laws Income Tax Fri, 12 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440123