https://www.taxtmi.com/caselaws?id=252180 The Tribunal allowed the appeals filed by the assessee, holding that the reopening of the assessments was invalid and the additions made under Sections 68 and 69 were unjustified. The Tribunal's decision was based on the lack of a direct nexus between the reasons recorded for reopening and the appellant, as well as the genuine nature of the loan transaction. en-us Tue, 09 Sep 2014 00:00:00 +0530 Tue, 14 Oct 2014 07:22:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252180 The Tribunal allowed the appeals filed by the assessee, holding that the reopening of the assessments was invalid and the additions made under Sections 68 and 69 were unjustified. The Tribunal's decision was based on the lack of a direct nexus between the reasons recorded for reopening and the appellant, as well as the genuine nature of the loan transaction. Case-Laws Income Tax Tue, 09 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252180