https://www.taxtmi.com/caselaws?id=63326 Information received from a search in another case may support reopening under sections 147 and 148 where the section 158BD route is not attracted, provided it gives rise to a belief of escapement of income; the notice was treated as valid because it was issued within limitation and the assessee had effective opportunity to respond. The unexplained cash credit addition under section 68 was remanded for verification in light of the plea that the receipts were already included sale realisations. The excise duty element in closing stock was also remanded for limited verification under the accounting policy and section 145. The estimated share-sale gain was set aside for fresh examination of ledger and sale records. en-us Wed, 30 Apr 2008 00:00:00 +0530 Thu, 14 Dec 2023 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63326 Information received from a search in another case may support reopening under sections 147 and 148 where the section 158BD route is not attracted, provided it gives rise to a belief of escapement of income; the notice was treated as valid because it was issued within limitation and the assessee had effective opportunity to respond. The unexplained cash credit addition under section 68 was remanded for verification in light of the plea that the receipts were already included sale realisations. The excise duty element in closing stock was also remanded for limited verification under the accounting policy and section 145. The estimated share-sale gain was set aside for fresh examination of ledger and sale records. Case-Laws Income Tax Wed, 30 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63326