https://www.taxtmi.com/caselaws?id=190186 The appeal challenged the validity of reassessment proceedings initiated under section 147 after four years from the relevant assessment year, regarding an addition of Rs. 5,00,000 loan. The CIT(A) upheld the initiation, stating the confirmation allegedly filed during the original assessment was not on record. The Tribunal directed the AO to provide the source of information on the loan and allow the assessee to substantiate its genuineness. The appeal was partly allowed for statistical purposes, indicating a mixed outcome for the parties involved. en-us Fri, 31 Dec 2010 00:00:00 +0530 Wed, 08 Feb 2017 16:40:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190186 The appeal challenged the validity of reassessment proceedings initiated under section 147 after four years from the relevant assessment year, regarding an addition of Rs. 5,00,000 loan. The CIT(A) upheld the initiation, stating the confirmation allegedly filed during the original assessment was not on record. The Tribunal directed the AO to provide the source of information on the loan and allow the assessee to substantiate its genuineness. The appeal was partly allowed for statistical purposes, indicating a mixed outcome for the parties involved. Case-Laws Income Tax Fri, 31 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190186