https://www.taxtmi.com/caselaws?id=395835 The Tribunal upheld the reopening of the assessment under section 147, citing tangible material supporting the Assessing Officer's reasonable belief of tax evasion. The addition of Rs. 1,37,455 for disallowed losses from futures and options transactions was upheld due to lack of evidence proving the genuineness of the transactions. The levy of interest under sections 234A, 234B, and 234D was upheld as consequential. The appeal by the assessee was dismissed entirely. en-us Mon, 08 Jun 2020 00:00:00 +0530 Tue, 09 Jun 2020 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395835 The Tribunal upheld the reopening of the assessment under section 147, citing tangible material supporting the Assessing Officer's reasonable belief of tax evasion. The addition of Rs. 1,37,455 for disallowed losses from futures and options transactions was upheld due to lack of evidence proving the genuineness of the transactions. The levy of interest under sections 234A, 234B, and 234D was upheld as consequential. The appeal by the assessee was dismissed entirely. Case-Laws Income Tax Mon, 08 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395835