https://www.taxtmi.com/caselaws?id=208663 The Tribunal upheld the reopening of the assessment under sections 147/148 as proper, dismissing the assessee's cross-objection. Additionally, the deletion of the Rs.25,00,000/- addition under section 68 was upheld, as the assessee adequately proved the genuineness of transactions and the creditworthiness of the creditors. The Tribunal found that the assessee had discharged the primary onus by providing necessary documentation, similar to precedents where the High Court ruled in favor of the assessee. en-us Thu, 31 Mar 2011 00:00:00 +0530 Tue, 24 Jan 2012 10:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208663 The Tribunal upheld the reopening of the assessment under sections 147/148 as proper, dismissing the assessee's cross-objection. Additionally, the deletion of the Rs.25,00,000/- addition under section 68 was upheld, as the assessee adequately proved the genuineness of transactions and the creditworthiness of the creditors. The Tribunal found that the assessee had discharged the primary onus by providing necessary documentation, similar to precedents where the High Court ruled in favor of the assessee. Case-Laws Income Tax Thu, 31 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208663