https://www.taxtmi.com/caselaws?id=180886 The ITAT upheld the reopening of assessment under sec. 148 of the Income-tax Act, 1961, due to the appellant's involvement with M/s. MKM Finsec (P) Ltd., as income was found to have escaped assessment. Additionally, the ITAT supported the deletion of the Rs. 40 lacs addition, as the sale of investments through M/s. MKM Finsec (P) Ltd. did not result in any capital gains or losses. Both the appeal and cross-objection were dismissed, affirming the reopening of assessment and the deletion of the Rs. 40 lacs addition. en-us Fri, 11 Dec 2009 00:00:00 +0530 Mon, 04 Apr 2016 10:46:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180886 The ITAT upheld the reopening of assessment under sec. 148 of the Income-tax Act, 1961, due to the appellant's involvement with M/s. MKM Finsec (P) Ltd., as income was found to have escaped assessment. Additionally, the ITAT supported the deletion of the Rs. 40 lacs addition, as the sale of investments through M/s. MKM Finsec (P) Ltd. did not result in any capital gains or losses. Both the appeal and cross-objection were dismissed, affirming the reopening of assessment and the deletion of the Rs. 40 lacs addition. Case-Laws Income Tax Fri, 11 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180886