https://www.taxtmi.com/caselaws?id=70568 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) [Commr.(A)], ruling that the reopening of the assessment under Section 147(a) of the IT Act was not validly initiated. The general statements from hundi bankers did not directly implicate the assessee, and a settlement petition filed by the assessee did not admit to bogus hundi loans. Therefore, the Revenue's appeal was dismissed. en-us Mon, 28 Sep 1981 00:00:00 +0530 Mon, 18 Apr 2011 10:16:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70568 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) [Commr.(A)], ruling that the reopening of the assessment under Section 147(a) of the IT Act was not validly initiated. The general statements from hundi bankers did not directly implicate the assessee, and a settlement petition filed by the assessee did not admit to bogus hundi loans. Therefore, the Revenue's appeal was dismissed. Case-Laws Income Tax Mon, 28 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70568