https://www.taxtmi.com/caselaws?id=339571 The Tribunal held that the reopening of the assessment was invalid and the addition of Rs. 15,00,000 as share application money was not justified. Emphasizing the importance of proving the source of funds and genuineness of transactions, the Tribunal allowed the assessee's appeal and deleted the addition. The decision highlighted procedural irregularities, lack of evidence for the addition, and the necessity of adhering to legal principles in tax assessments. en-us Fri, 10 Feb 2017 00:00:00 +0530 Thu, 02 Mar 2017 07:57:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339571 The Tribunal held that the reopening of the assessment was invalid and the addition of Rs. 15,00,000 as share application money was not justified. Emphasizing the importance of proving the source of funds and genuineness of transactions, the Tribunal allowed the assessee's appeal and deleted the addition. The decision highlighted procedural irregularities, lack of evidence for the addition, and the necessity of adhering to legal principles in tax assessments. Case-Laws Income Tax Fri, 10 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339571