https://www.taxtmi.com/caselaws?id=383172 The Tribunal found the reopening of the assessment invalid due to lack of evidence and violation of natural justice. The addition of Rs. 18,00,00,000 as unexplained cash credit was deleted as the assessee provided sufficient evidence and the AO's investigation was inadequate. The consequential additions under section 69C, charging of interest under section 234B, and penalty under section 271(1)(c) were deemed unnecessary following the deletion of the primary additions. The Tribunal allowed the appeal, quashed the reassessment, and directed the deletion of the additions made by the AO. en-us Wed, 10 Jul 2019 00:00:00 +0530 Wed, 17 Jul 2019 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383172 The Tribunal found the reopening of the assessment invalid due to lack of evidence and violation of natural justice. The addition of Rs. 18,00,00,000 as unexplained cash credit was deleted as the assessee provided sufficient evidence and the AO's investigation was inadequate. The consequential additions under section 69C, charging of interest under section 234B, and penalty under section 271(1)(c) were deemed unnecessary following the deletion of the primary additions. The Tribunal allowed the appeal, quashed the reassessment, and directed the deletion of the additions made by the AO. Case-Laws Income Tax Wed, 10 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383172