https://www.taxtmi.com/caselaws?id=407569 The Tribunal ruled in favor of the assessee, holding that the reassessment under section 147 of the I.T. Act was unjustified due to lack of supporting evidence. The addition of Rs. 1.05 crores based on a statement was deleted as the Tribunal deemed the statement inadmissible without allowing cross-examination. The Tribunal emphasized the importance of providing the assessee with an opportunity for cross-examination and access to collected material before making additions based on such evidence. en-us Thu, 13 May 2021 00:00:00 +0530 Thu, 13 May 2021 17:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407569 The Tribunal ruled in favor of the assessee, holding that the reassessment under section 147 of the I.T. Act was unjustified due to lack of supporting evidence. The addition of Rs. 1.05 crores based on a statement was deleted as the Tribunal deemed the statement inadmissible without allowing cross-examination. The Tribunal emphasized the importance of providing the assessee with an opportunity for cross-examination and access to collected material before making additions based on such evidence. Case-Laws Income Tax Thu, 13 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407569