https://www.taxtmi.com/caselaws?id=404291 The Tribunal ruled in favor of the assessee, quashing the reopening of the assessment for A.Y. 2009-10 and subsequent additions. For A.Y. 2008-09, partial relief was granted with the deletion of additions totaling Rs. 2.50 crores and Rs. 6.50 lakhs, while an addition of Rs. 177,340 was confirmed. The Tribunal found that the reopening lacked legal basis as the assessee had fully disclosed all material facts during the original assessment, and there was insufficient corroborative evidence for the additional considerations claimed. en-us Wed, 20 Jan 2021 00:00:00 +0530 Sat, 20 Feb 2021 09:07:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404291 The Tribunal ruled in favor of the assessee, quashing the reopening of the assessment for A.Y. 2009-10 and subsequent additions. For A.Y. 2008-09, partial relief was granted with the deletion of additions totaling Rs. 2.50 crores and Rs. 6.50 lakhs, while an addition of Rs. 177,340 was confirmed. The Tribunal found that the reopening lacked legal basis as the assessee had fully disclosed all material facts during the original assessment, and there was insufficient corroborative evidence for the additional considerations claimed. Case-Laws Income Tax Wed, 20 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404291