https://www.taxtmi.com/caselaws?id=293034 The Tribunal upheld the CIT(A)'s decision to annul the reopening of the case under Section 147, citing lack of valid reasons and tangible material for income concealment. Additionally, the Tribunal supported the deletion of various additions made by the A.O., including those related to share capital, unsecured loans, cash expenditure, and suppression of sales, as there was insufficient new evidence to justify these additions. The Tribunal emphasized the importance of tangible material in both reopening assessments and making additions, in line with established legal principles. en-us Mon, 21 Nov 2016 00:00:00 +0530 Wed, 20 Jan 2021 13:26:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293034 The Tribunal upheld the CIT(A)'s decision to annul the reopening of the case under Section 147, citing lack of valid reasons and tangible material for income concealment. Additionally, the Tribunal supported the deletion of various additions made by the A.O., including those related to share capital, unsecured loans, cash expenditure, and suppression of sales, as there was insufficient new evidence to justify these additions. The Tribunal emphasized the importance of tangible material in both reopening assessments and making additions, in line with established legal principles. Case-Laws Income Tax Mon, 21 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293034