https://www.taxtmi.com/caselaws?id=388085 The Tribunal partly allowed the appeals, upholding the reassessment under Section 147 but deleting the additions of Rs. 10,00,000 as unexplained cash credit and the disallowance of Rs. 58,849 as interest payment. The reassessment was deemed valid due to tangible material from a search action, but the additions were removed as the Assessing Officer failed to verify the genuineness of the transactions despite the assessee providing prima facie evidence. The decision for A.Y. 2008-09 was applied to A.Y. 2010-11. en-us Thu, 31 Oct 2019 00:00:00 +0530 Thu, 07 Nov 2019 08:28:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388085 The Tribunal partly allowed the appeals, upholding the reassessment under Section 147 but deleting the additions of Rs. 10,00,000 as unexplained cash credit and the disallowance of Rs. 58,849 as interest payment. The reassessment was deemed valid due to tangible material from a search action, but the additions were removed as the Assessing Officer failed to verify the genuineness of the transactions despite the assessee providing prima facie evidence. The decision for A.Y. 2008-09 was applied to A.Y. 2010-11. Case-Laws Income Tax Thu, 31 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388085