https://www.taxtmi.com/caselaws?id=272953 The Tribunal dismissed the Revenue's appeals and upheld the deletion of additions made under Section 68 for unexplained cash credits. The Tribunal found that the share application money could not be treated as undisclosed income without a clear nexus to the assessee's funds. It also ruled in favor of the assessee regarding the validity of the reassessment under Section 148, noting the lack of specific evidence and procedural flaws in the reopening process. en-us Wed, 22 Jun 2016 00:00:00 +0530 Mon, 28 May 2018 07:05:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272953 The Tribunal dismissed the Revenue's appeals and upheld the deletion of additions made under Section 68 for unexplained cash credits. The Tribunal found that the share application money could not be treated as undisclosed income without a clear nexus to the assessee's funds. It also ruled in favor of the assessee regarding the validity of the reassessment under Section 148, noting the lack of specific evidence and procedural flaws in the reopening process. Case-Laws Income Tax Wed, 22 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272953