https://www.taxtmi.com/caselaws?id=458766 The Tribunal allowed the assessee's appeal, quashing the reassessment proceedings due to the invalidity of the notice issued u/s 148 of the Income-tax Act, 1961. It upheld the genuineness of the gift received, as the AO failed to disprove the gift deed. However, the Tribunal maintained the mandatory charging of interest under sections 234B, 234C, 244A(3), and 234D, as it was deemed consequential. en-us Thu, 01 Nov 2012 00:00:00 +0530 Fri, 15 Nov 2024 13:13:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458766 The Tribunal allowed the assessee's appeal, quashing the reassessment proceedings due to the invalidity of the notice issued u/s 148 of the Income-tax Act, 1961. It upheld the genuineness of the gift received, as the AO failed to disprove the gift deed. However, the Tribunal maintained the mandatory charging of interest under sections 234B, 234C, 244A(3), and 234D, as it was deemed consequential. Case-Laws Income Tax Thu, 01 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458766