https://www.taxtmi.com/caselaws?id=342732 The Tribunal upheld the reopening of the assessment for AY 2007-08 under Section 148 based on new information indicating income escapement. Additions under Section 68 for various assessment years were made due to unexplained cash credits from a creditor providing accommodation entries. The Tribunal found the AO's investigation lacking and directed a re-examination with the provision of relevant documents and opportunity for the assessee to present evidence. All appeals were allowed for statistical purposes, and the cases were remitted to the AO for fair re-adjudication. en-us Mon, 01 May 2017 00:00:00 +0530 Thu, 11 May 2017 07:09:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342732 The Tribunal upheld the reopening of the assessment for AY 2007-08 under Section 148 based on new information indicating income escapement. Additions under Section 68 for various assessment years were made due to unexplained cash credits from a creditor providing accommodation entries. The Tribunal found the AO's investigation lacking and directed a re-examination with the provision of relevant documents and opportunity for the assessee to present evidence. All appeals were allowed for statistical purposes, and the cases were remitted to the AO for fair re-adjudication. Case-Laws Income Tax Mon, 01 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342732