https://www.taxtmi.com/caselaws?id=314564 The ITAT allowed the appeal, overturning the assessment order, finding it void due to lack of jurisdiction under section 148. The Tribunal determined that the AO's addition under section 68 was incorrect, as the transactions were legitimate, with no evidence of blacklisting or unaccounted cash deposits. The CIT(A) failed to address the assessee's submissions adequately. The Tribunal emphasized the necessity for thorough examination of facts and adherence to legal procedures in tax assessments. en-us Wed, 15 Mar 2023 00:00:00 +0530 Thu, 20 Jun 2024 06:55:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314564 The ITAT allowed the appeal, overturning the assessment order, finding it void due to lack of jurisdiction under section 148. The Tribunal determined that the AO's addition under section 68 was incorrect, as the transactions were legitimate, with no evidence of blacklisting or unaccounted cash deposits. The CIT(A) failed to address the assessee's submissions adequately. The Tribunal emphasized the necessity for thorough examination of facts and adherence to legal procedures in tax assessments. Case-Laws Income Tax Wed, 15 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314564