https://www.taxtmi.com/caselaws?id=184958 The appeal was dismissed, confirming the validity of the reassessment under section 147 and the addition of Rs. 15,00,000 under section 68 as unexplained cash credit received from two companies. The Tribunal upheld the reassessment, stating that there was sufficient specific and reliable information for the assessing officer to believe that income had escaped assessment. Additionally, the Tribunal ruled that the appellant failed to establish the genuineness of the cash credits received as share capital, leading to the sustained addition of Rs. 15,00,000. en-us Wed, 30 Apr 2008 00:00:00 +0530 Tue, 26 Jul 2016 16:28:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184958 The appeal was dismissed, confirming the validity of the reassessment under section 147 and the addition of Rs. 15,00,000 under section 68 as unexplained cash credit received from two companies. The Tribunal upheld the reassessment, stating that there was sufficient specific and reliable information for the assessing officer to believe that income had escaped assessment. Additionally, the Tribunal ruled that the appellant failed to establish the genuineness of the cash credits received as share capital, leading to the sustained addition of Rs. 15,00,000. Case-Laws Income Tax Wed, 30 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184958