https://www.taxtmi.com/caselaws?id=344025 The Tribunal upheld the validity of reopening the assessment based on sufficient reasons related to income escapement from alleged share application money. However, the addition of share capital received was deemed premature without proper investigation and the opportunity for cross-examination. The matter was remanded to the AO for a fresh decision. The Tribunal allowed the appeal in part for statistical purposes, emphasizing the importance of thorough investigation and due process before making additions based on oral statements. en-us Mon, 05 Jun 2017 00:00:00 +0530 Wed, 07 Jun 2017 06:28:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344025 The Tribunal upheld the validity of reopening the assessment based on sufficient reasons related to income escapement from alleged share application money. However, the addition of share capital received was deemed premature without proper investigation and the opportunity for cross-examination. The matter was remanded to the AO for a fresh decision. The Tribunal allowed the appeal in part for statistical purposes, emphasizing the importance of thorough investigation and due process before making additions based on oral statements. Case-Laws Income Tax Mon, 05 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344025