https://www.taxtmi.com/caselaws?id=407911 The case involved challenges to the validity of re-assessment proceedings initiated after a four-year period, focusing on additions of unexplained cash credit under section 68 of the Income Tax Act. The Commissioner of Income Tax (Appeals) deleted protective additions but directed substantive additions in the hands of another entity. Common directors and related investment activities of various companies were identified. The approval process under section 151 of the Act was questioned for procedural irregularities. Additional evidences challenging the initiation of re-assessment proceedings were admitted for further adjudication. The Tribunal aimed for a comprehensive consideration of all evidence for a just outcome. en-us Fri, 21 May 2021 00:00:00 +0530 Wed, 26 May 2021 08:41:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407911 The case involved challenges to the validity of re-assessment proceedings initiated after a four-year period, focusing on additions of unexplained cash credit under section 68 of the Income Tax Act. The Commissioner of Income Tax (Appeals) deleted protective additions but directed substantive additions in the hands of another entity. Common directors and related investment activities of various companies were identified. The approval process under section 151 of the Act was questioned for procedural irregularities. Additional evidences challenging the initiation of re-assessment proceedings were admitted for further adjudication. The Tribunal aimed for a comprehensive consideration of all evidence for a just outcome. Case-Laws Income Tax Fri, 21 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407911