https://www.taxtmi.com/caselaws?id=407850 The Tribunal partly allowed the appeals, upholding the validity of the reopening of assessments under Section 148 but deleting the additions of share capital and share premium as unexplained cash credits under Section 68, as well as the addition of unaccounted commission expenditure under Section 69C. The Tribunal emphasized the importance of proper verification and reliance on tangible evidence rather than unsubstantiated statements in making such additions. en-us Mon, 17 May 2021 00:00:00 +0530 Mon, 24 May 2021 08:37:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407850 The Tribunal partly allowed the appeals, upholding the validity of the reopening of assessments under Section 148 but deleting the additions of share capital and share premium as unexplained cash credits under Section 68, as well as the addition of unaccounted commission expenditure under Section 69C. The Tribunal emphasized the importance of proper verification and reliance on tangible evidence rather than unsubstantiated statements in making such additions. Case-Laws Income Tax Mon, 17 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407850