https://www.taxtmi.com/caselaws?id=218989 The Tribunal upheld the reopening of assessment under sections 147/148 of the Income Tax Act, allowing additions on account of unexplained cash credits and share application money. The charging of interest under sections 234A and 234B was upheld, and the original return was treated as filed in response to the notice under section 148. The granting of depreciation amounting to Rs. 67,92,680/- was also confirmed. Both the assessee and revenue appeals were dismissed, with the Tribunal upholding the findings of the appellate authority on all issues. en-us Tue, 31 Jan 2012 00:00:00 +0530 Sat, 01 Dec 2012 07:16:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218989 The Tribunal upheld the reopening of assessment under sections 147/148 of the Income Tax Act, allowing additions on account of unexplained cash credits and share application money. The charging of interest under sections 234A and 234B was upheld, and the original return was treated as filed in response to the notice under section 148. The granting of depreciation amounting to Rs. 67,92,680/- was also confirmed. Both the assessee and revenue appeals were dismissed, with the Tribunal upholding the findings of the appellate authority on all issues. Case-Laws Income Tax Tue, 31 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218989