https://www.taxtmi.com/caselaws?id=373106 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision that the re-opening/re-assessment under Section 147 of the Income Tax Act, 1961 was invalid. The additions of Rs. 14,18,390/- as interest paid to bogus/jamakharchi companies and Rs. 5,35,00,000/- as unexplained cash credit were both quashed. The Tribunal found that the Assessing Officer's reasons for re-opening were not sustained, as the amounts in question were not claimed as deductions by the assessee. The assessee's cross-objection was dismissed as infructuous. en-us Mon, 31 Dec 2018 00:00:00 +0530 Sat, 05 Jan 2019 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373106 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision that the re-opening/re-assessment under Section 147 of the Income Tax Act, 1961 was invalid. The additions of Rs. 14,18,390/- as interest paid to bogus/jamakharchi companies and Rs. 5,35,00,000/- as unexplained cash credit were both quashed. The Tribunal found that the Assessing Officer's reasons for re-opening were not sustained, as the amounts in question were not claimed as deductions by the assessee. The assessee's cross-objection was dismissed as infructuous. Case-Laws Income Tax Mon, 31 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373106