https://www.taxtmi.com/caselaws?id=278448 The Tribunal upheld the validity of the reopening of the assessment under Section 147 and the issuance of notice under Section 148 of the Income Tax Act, citing the need for a prima facie belief based on relevant material. However, the Tribunal directed the CIT(A) to admit additional evidence regarding the Rs. 5 lakhs gift and reconsider the addition as income from undisclosed sources under Section 68, emphasizing the importance of a fair opportunity for the assessee to present her case. The appeal was allowed partly for statistical purposes, ensuring a fair reassessment process. en-us Mon, 15 Jun 2015 00:00:00 +0530 Mon, 04 Feb 2019 06:52:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278448 The Tribunal upheld the validity of the reopening of the assessment under Section 147 and the issuance of notice under Section 148 of the Income Tax Act, citing the need for a prima facie belief based on relevant material. However, the Tribunal directed the CIT(A) to admit additional evidence regarding the Rs. 5 lakhs gift and reconsider the addition as income from undisclosed sources under Section 68, emphasizing the importance of a fair opportunity for the assessee to present her case. The appeal was allowed partly for statistical purposes, ensuring a fair reassessment process. Case-Laws Income Tax Mon, 15 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278448