https://www.taxtmi.com/caselaws?id=285505 The Tribunal upheld the validity of the assessment framed under sections 147 and 143(3) of the Income Tax Act, finding the reasons for reopening to be bonafide. However, the addition of Rs. 23,00,500/- by the CIT(A) was overturned as it was solely based on third-party evidence without allowing the assessee to cross-examine witnesses, violating principles of natural justice. The Tribunal emphasized the right to cross-examine and set aside the CIT(A) order, deleting the addition. The appeal was partly allowed. en-us Wed, 27 Jul 2016 00:00:00 +0530 Thu, 16 Jan 2020 11:00:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285505 The Tribunal upheld the validity of the assessment framed under sections 147 and 143(3) of the Income Tax Act, finding the reasons for reopening to be bonafide. However, the addition of Rs. 23,00,500/- by the CIT(A) was overturned as it was solely based on third-party evidence without allowing the assessee to cross-examine witnesses, violating principles of natural justice. The Tribunal emphasized the right to cross-examine and set aside the CIT(A) order, deleting the addition. The appeal was partly allowed. Case-Laws Income Tax Wed, 27 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285505