https://www.taxtmi.com/caselaws?id=217372 The Tribunal upheld the re-opening of the assessment under Section 148, dismissing the assessee's cross-objection. Additionally, the Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,95,00,000/- on account of new share capital, finding the evidence provided by the assessee sufficient to prove the genuineness of the transactions. Both the cross-objection of the assessee and the appeal of the Revenue were dismissed, affirming the decisions regarding the re-opening of assessment and deletion of the addition. en-us Fri, 22 Jun 2012 00:00:00 +0530 Fri, 12 Oct 2012 22:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217372 The Tribunal upheld the re-opening of the assessment under Section 148, dismissing the assessee's cross-objection. Additionally, the Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 1,95,00,000/- on account of new share capital, finding the evidence provided by the assessee sufficient to prove the genuineness of the transactions. Both the cross-objection of the assessee and the appeal of the Revenue were dismissed, affirming the decisions regarding the re-opening of assessment and deletion of the addition. Case-Laws Income Tax Fri, 22 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217372