https://www.taxtmi.com/caselaws?id=359245 The Tribunal upheld the Commissioner (Appeals)'s decision to delete the addition of cash payments as unexplained investments under section 69B of the Income Tax Act. The Tribunal found that the Assessing Officer had not conducted proper enquiries or provided corroborative evidence to support the addition, relying solely on presumptions. Additionally, the Tribunal dismissed both the Revenue's appeal challenging the deletion of the addition and the assessee's appeal regarding the validity of the reopening under section 147, deeming it of academic importance. This decision set a precedent for similar appeals involving different assessees, resulting in the dismissal of all appeals. en-us Wed, 25 Apr 2018 00:00:00 +0530 Wed, 25 Apr 2018 17:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359245 The Tribunal upheld the Commissioner (Appeals)'s decision to delete the addition of cash payments as unexplained investments under section 69B of the Income Tax Act. The Tribunal found that the Assessing Officer had not conducted proper enquiries or provided corroborative evidence to support the addition, relying solely on presumptions. Additionally, the Tribunal dismissed both the Revenue's appeal challenging the deletion of the addition and the assessee's appeal regarding the validity of the reopening under section 147, deeming it of academic importance. This decision set a precedent for similar appeals involving different assessees, resulting in the dismissal of all appeals. Case-Laws Income Tax Wed, 25 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359245