https://www.taxtmi.com/caselaws?id=13397 The High Court upheld the decision in favor of the assessee in a case involving the reopening of an assessment for the assessment year 1980-81. The Assessing Officer's additions on account of cash credits were deemed valid due to lack of evidence and involvement of a hundi broker in "hawala" transactions. However, the court ruled that the Assessing Officer failed to establish the identity of creditors and did not conduct a thorough inquiry, leading to the dismissal of the appeal as it did not raise a substantial question of law under the Income-tax Act. en-us Wed, 24 Jan 2007 00:00:00 +0530 Thu, 28 May 2009 16:48:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13397 The High Court upheld the decision in favor of the assessee in a case involving the reopening of an assessment for the assessment year 1980-81. The Assessing Officer's additions on account of cash credits were deemed valid due to lack of evidence and involvement of a hundi broker in "hawala" transactions. However, the court ruled that the Assessing Officer failed to establish the identity of creditors and did not conduct a thorough inquiry, leading to the dismissal of the appeal as it did not raise a substantial question of law under the Income-tax Act. Case-Laws Income Tax Wed, 24 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13397