https://www.taxtmi.com/caselaws?id=396631 The appeal of the assessee was allowed as the reasons for reopening the assessment were found to be incorrect. The addition made under Section 68 was deemed unsubstantiated and lacking proper examination. The AO failed to specify the nature of the amounts and did not adequately review the credits in the assessee's books. Consequently, the appeal was allowed based on grounds related to Section 148 and Section 68 of the Income Tax Act, 1961. en-us Wed, 06 May 2020 00:00:00 +0530 Tue, 14 Jul 2020 11:46:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396631 The appeal of the assessee was allowed as the reasons for reopening the assessment were found to be incorrect. The addition made under Section 68 was deemed unsubstantiated and lacking proper examination. The AO failed to specify the nature of the amounts and did not adequately review the credits in the assessee's books. Consequently, the appeal was allowed based on grounds related to Section 148 and Section 68 of the Income Tax Act, 1961. Case-Laws Income Tax Wed, 06 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396631