https://www.taxtmi.com/caselaws?id=310118 The Tribunal quashed the assessment order under Section 153C/143(3) for AY 2011-12, citing lack of jurisdiction and absence of incriminating material. The AO's assumption of jurisdiction under Section 153C without possessing undisclosed assets was deemed invalid. The addition made under Section 68 was found unsustainable as it lacked incriminating evidence. The Tribunal clarified that notice under Section 143(2) is not mandatory for finalizing assessments under Section 153A/153C. The assessment order was held to be null and void, with the Tribunal partially allowing the Revenue's appeal and accepting the assessee's cross objections. en-us Fri, 10 Dec 2021 00:00:00 +0530 Sat, 07 Oct 2023 08:32:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310118 The Tribunal quashed the assessment order under Section 153C/143(3) for AY 2011-12, citing lack of jurisdiction and absence of incriminating material. The AO's assumption of jurisdiction under Section 153C without possessing undisclosed assets was deemed invalid. The addition made under Section 68 was found unsustainable as it lacked incriminating evidence. The Tribunal clarified that notice under Section 143(2) is not mandatory for finalizing assessments under Section 153A/153C. The assessment order was held to be null and void, with the Tribunal partially allowing the Revenue's appeal and accepting the assessee's cross objections. Case-Laws Income Tax Fri, 10 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310118