https://www.taxtmi.com/caselaws?id=308969 The appeal was partly allowed, with the Tribunal setting aside the orders of the authorities below and quashing the reopening of the assessment due to jurisdictional and limitation issues. The Tribunal found the initiation of proceedings under sections 147/148 to be unsustainable, lacking proper application of mind and exceeding the limitation period for issuing the notice. Additionally, the Tribunal ruled that the approval under section 151 was flawed, rendering the entire proceedings illegal. The additions under sections 68 and 69C of the Income Tax Act were also contested successfully by the Assessee, highlighting procedural errors and lack of legal justification. en-us Wed, 23 Dec 2020 00:00:00 +0530 Thu, 03 Aug 2023 21:14:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308969 The appeal was partly allowed, with the Tribunal setting aside the orders of the authorities below and quashing the reopening of the assessment due to jurisdictional and limitation issues. The Tribunal found the initiation of proceedings under sections 147/148 to be unsustainable, lacking proper application of mind and exceeding the limitation period for issuing the notice. Additionally, the Tribunal ruled that the approval under section 151 was flawed, rendering the entire proceedings illegal. The additions under sections 68 and 69C of the Income Tax Act were also contested successfully by the Assessee, highlighting procedural errors and lack of legal justification. Case-Laws Income Tax Wed, 23 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308969