https://www.taxtmi.com/caselaws?id=181777 The Tribunal upheld the reopening of assessment u/s 147 for the assessment year 2002-03, finding that the AO had sufficient grounds based on information from the investigation wing. Regarding the addition of share application money u/s 68, the Tribunal upheld the deletion of the addition by the Ld. CIT(A), as the assessee had proven the identity of the share application money and discharged its onus, while noting the AO's failure to conduct a proper inquiry and reliance on inadequate information. en-us Fri, 17 Jun 2011 00:00:00 +0530 Sat, 23 Apr 2016 18:16:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181777 The Tribunal upheld the reopening of assessment u/s 147 for the assessment year 2002-03, finding that the AO had sufficient grounds based on information from the investigation wing. Regarding the addition of share application money u/s 68, the Tribunal upheld the deletion of the addition by the Ld. CIT(A), as the assessee had proven the identity of the share application money and discharged its onus, while noting the AO's failure to conduct a proper inquiry and reliance on inadequate information. Case-Laws Income Tax Fri, 17 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181777