https://www.taxtmi.com/caselaws?id=387032 The Tribunal upheld the initiation of re-assessment proceedings under section 147 of the I.T. Act, 1961, based on specific information regarding accommodation entries. Additionally, the Tribunal confirmed the addition of Rs. 50 lakhs under section 68 of the I.T. Act, 1961, as the assessee failed to prove the genuineness of the transactions. The Tribunal dismissed the appeal, citing the lack of sufficient evidence provided by the assessee to support its case. en-us Fri, 11 Oct 2019 00:00:00 +0530 Tue, 15 Oct 2019 12:38:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387032 The Tribunal upheld the initiation of re-assessment proceedings under section 147 of the I.T. Act, 1961, based on specific information regarding accommodation entries. Additionally, the Tribunal confirmed the addition of Rs. 50 lakhs under section 68 of the I.T. Act, 1961, as the assessee failed to prove the genuineness of the transactions. The Tribunal dismissed the appeal, citing the lack of sufficient evidence provided by the assessee to support its case. Case-Laws Income Tax Fri, 11 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387032