https://www.taxtmi.com/caselaws?id=761699 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to quash the assessment under sections 147/148 due to the Assessing Officer's reliance on borrowed information without independent application of mind. Additionally, the Tribunal affirmed that payments made to specific companies were legitimate advances, lacking evidence for disallowance. Consequently, the impugned order was upheld, and the Revenue's appeal was dismissed for lacking merit. en-us Fri, 08 Nov 2024 00:00:00 +0530 Fri, 15 Nov 2024 08:45:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761699 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision to quash the assessment under sections 147/148 due to the Assessing Officer's reliance on borrowed information without independent application of mind. Additionally, the Tribunal affirmed that payments made to specific companies were legitimate advances, lacking evidence for disallowance. Consequently, the impugned order was upheld, and the Revenue's appeal was dismissed for lacking merit. Case-Laws Income Tax Fri, 08 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761699