https://www.taxtmi.com/caselaws?id=402531 The Tribunal upheld the validity of the notice under section 148 but deleted the additions of Rs. 2,50,00,000 and Rs. 5,12,40,000 under section 68, finding that the assessee had discharged the onus of proving the identity, genuineness, and creditworthiness of the investor company. The Tribunal emphasized the importance of tangible material and proper application of mind in reassessment proceedings. en-us Thu, 29 Oct 2020 00:00:00 +0530 Tue, 05 Jan 2021 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402531 The Tribunal upheld the validity of the notice under section 148 but deleted the additions of Rs. 2,50,00,000 and Rs. 5,12,40,000 under section 68, finding that the assessee had discharged the onus of proving the identity, genuineness, and creditworthiness of the investor company. The Tribunal emphasized the importance of tangible material and proper application of mind in reassessment proceedings. Case-Laws Income Tax Thu, 29 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402531