https://www.taxtmi.com/caselaws?id=460880 The Court ruled in favor of the appellant, finding the reopening of assessment proceedings under section 147 of the Income Tax Act, 1961 invalid due to insufficient opportunity for the appellant to present their case. The Assessing Officer and CIT(A) failed to provide a fair hearing, violating principles of natural justice. Additionally, the Court determined that the addition made on the share application amount lacked adequate evidential support. Consequently, the Court allowed the appeal for statistical purposes and directed the Assessing Officer to reconsider the issue with a fair opportunity for the appellant to be heard. en-us Thu, 04 Apr 2013 00:00:00 +0530 Thu, 27 Feb 2025 11:05:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460880 The Court ruled in favor of the appellant, finding the reopening of assessment proceedings under section 147 of the Income Tax Act, 1961 invalid due to insufficient opportunity for the appellant to present their case. The Assessing Officer and CIT(A) failed to provide a fair hearing, violating principles of natural justice. Additionally, the Court determined that the addition made on the share application amount lacked adequate evidential support. Consequently, the Court allowed the appeal for statistical purposes and directed the Assessing Officer to reconsider the issue with a fair opportunity for the appellant to be heard. Case-Laws Income Tax Thu, 04 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460880