https://www.taxtmi.com/caselaws?id=185880 The Tribunal upheld the reassessment proceedings under sections 147/143(3) of the Income-tax Act, dismissing challenges regarding the legality and timing of reasons provided. The Tribunal found no flaws in the reassessment process based on information from the Investigation Wing, leading to the dismissal of grounds challenging the reopening of assessment. Regarding the addition of share capital and share application money, the Tribunal overturned the lower authorities' orders, allowing the appeal based on extensive documentation provided by the appellant and emphasizing the revenue's burden to prove the source of funds. en-us Tue, 31 Mar 2015 00:00:00 +0530 Thu, 01 Sep 2016 13:29:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185880 The Tribunal upheld the reassessment proceedings under sections 147/143(3) of the Income-tax Act, dismissing challenges regarding the legality and timing of reasons provided. The Tribunal found no flaws in the reassessment process based on information from the Investigation Wing, leading to the dismissal of grounds challenging the reopening of assessment. Regarding the addition of share capital and share application money, the Tribunal overturned the lower authorities' orders, allowing the appeal based on extensive documentation provided by the appellant and emphasizing the revenue's burden to prove the source of funds. Case-Laws Income Tax Tue, 31 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185880