https://www.taxtmi.com/caselaws?id=188465 The Tribunal upheld the validity of reopening the assessment based on information from the investigation wing. However, the addition of alleged on-money was deemed unjustified as the Assessing Officer relied on third-party statements without concrete evidence. The Tribunal emphasized the need for primary evidence to support tax assessments and concluded that the A.O. failed to provide reliable material. Consequently, the Tribunal directed the deletion of the addition, partially allowing the appeal filed by the assessee. en-us Fri, 06 Nov 2015 00:00:00 +0530 Fri, 02 Dec 2016 10:55:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188465 The Tribunal upheld the validity of reopening the assessment based on information from the investigation wing. However, the addition of alleged on-money was deemed unjustified as the Assessing Officer relied on third-party statements without concrete evidence. The Tribunal emphasized the need for primary evidence to support tax assessments and concluded that the A.O. failed to provide reliable material. Consequently, the Tribunal directed the deletion of the addition, partially allowing the appeal filed by the assessee. Case-Laws Income Tax Fri, 06 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188465