https://www.taxtmi.com/caselaws?id=192318 The Appellate Tribunal found the reopening of assessment under Section 147 of the Income Tax Act after four years without establishing any failure on the appellant's part to be invalid. Additionally, the Tribunal ruled that the sale proceeds from the share transactions were not 'unexplained money' under Section 69A, as they were traceable through legitimate banking channels and supported by documentary evidence. Consequently, the Tribunal allowed the appeal, setting aside the addition made by the Assessing Officer. en-us Fri, 19 Aug 2016 00:00:00 +0530 Wed, 24 May 2017 18:35:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192318 The Appellate Tribunal found the reopening of assessment under Section 147 of the Income Tax Act after four years without establishing any failure on the appellant's part to be invalid. Additionally, the Tribunal ruled that the sale proceeds from the share transactions were not 'unexplained money' under Section 69A, as they were traceable through legitimate banking channels and supported by documentary evidence. Consequently, the Tribunal allowed the appeal, setting aside the addition made by the Assessing Officer. Case-Laws Income Tax Fri, 19 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192318