https://www.taxtmi.com/caselaws?id=402580 The appeals challenging the reopening of assessments and addition of income under Sections 147 and 68 of the Income Tax Act were dismissed. The Tribunal affirmed the reopening of assessments based on credible information from the CBI indicating bogus donations received by the Appellant. Additionally, the Tribunal upheld the addition of income under Section 68 as the Appellant failed to establish the genuineness and creditworthiness of the donors, with the CBI investigation confirming the donations as bogus. The Tribunal concluded that the AO had valid grounds for reassessment, and the additions under Section 68 were justified. en-us Tue, 22 Dec 2020 00:00:00 +0530 Sat, 20 Feb 2021 12:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402580 The appeals challenging the reopening of assessments and addition of income under Sections 147 and 68 of the Income Tax Act were dismissed. The Tribunal affirmed the reopening of assessments based on credible information from the CBI indicating bogus donations received by the Appellant. Additionally, the Tribunal upheld the addition of income under Section 68 as the Appellant failed to establish the genuineness and creditworthiness of the donors, with the CBI investigation confirming the donations as bogus. The Tribunal concluded that the AO had valid grounds for reassessment, and the additions under Section 68 were justified. Case-Laws Income Tax Tue, 22 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402580