https://www.taxtmi.com/caselaws?id=400211 The tribunal upheld the validity of reopening the assessment under section 147 of the IT Act, 1961, due to tangible material indicating income had escaped assessment. It dismissed the objection regarding non-disposal of objections against the notice under section 148, as the filed letter did not constitute a formal objection. Additionally, it confirmed the addition of Rs. 4,00,000/- under section 69 for unexplained investment, supported by consistent seized material and statements. The appeal was dismissed, and the order was pronounced on 21/08/2020. en-us Fri, 21 Aug 2020 00:00:00 +0530 Sat, 31 Oct 2020 11:42:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400211 The tribunal upheld the validity of reopening the assessment under section 147 of the IT Act, 1961, due to tangible material indicating income had escaped assessment. It dismissed the objection regarding non-disposal of objections against the notice under section 148, as the filed letter did not constitute a formal objection. Additionally, it confirmed the addition of Rs. 4,00,000/- under section 69 for unexplained investment, supported by consistent seized material and statements. The appeal was dismissed, and the order was pronounced on 21/08/2020. Case-Laws Income Tax Fri, 21 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400211