https://www.taxtmi.com/caselaws?id=351496 The case involved the validity of reopening the assessment under Section 147 of the Income-tax Act, 1961, and the addition of Rs. 2,71,00,000/- under Section 69A based on evidence from search and seizure operations. The CIT(A) upheld the validity of the reopening under Section 147 but allowed the assessee's appeal regarding the addition under Section 69A, stating that the AO's actions were arbitrary and lacked supporting evidence. The Tribunal set aside the matter and directed the AO to provide the assessee with seized material, allow rebuttal, and ensure natural justice principles in the assessment. The appeal by the Revenue was allowed for statistical purposes, remanding the matter for fresh adjudication. en-us Thu, 23 Nov 2017 00:00:00 +0530 Sat, 25 Nov 2017 09:25:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351496 The case involved the validity of reopening the assessment under Section 147 of the Income-tax Act, 1961, and the addition of Rs. 2,71,00,000/- under Section 69A based on evidence from search and seizure operations. The CIT(A) upheld the validity of the reopening under Section 147 but allowed the assessee's appeal regarding the addition under Section 69A, stating that the AO's actions were arbitrary and lacked supporting evidence. The Tribunal set aside the matter and directed the AO to provide the assessee with seized material, allow rebuttal, and ensure natural justice principles in the assessment. The appeal by the Revenue was allowed for statistical purposes, remanding the matter for fresh adjudication. Case-Laws Income Tax Thu, 23 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351496