https://www.taxtmi.com/caselaws?id=408171 The Tribunal upheld the reopening of the assessment under sections 147/143(3) and the addition of Rs. 67 crores under section 68. Additionally, the interest charged under sections 234A, 234B, and 234C was upheld. However, the initiation of penalty proceedings under section 271(1)(c) was deemed premature and dismissed. The appeal by the assessee was partially allowed. en-us Mon, 31 May 2021 00:00:00 +0530 Wed, 02 Jun 2021 08:40:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408171 The Tribunal upheld the reopening of the assessment under sections 147/143(3) and the addition of Rs. 67 crores under section 68. Additionally, the interest charged under sections 234A, 234B, and 234C was upheld. However, the initiation of penalty proceedings under section 271(1)(c) was deemed premature and dismissed. The appeal by the assessee was partially allowed. Case-Laws Income Tax Mon, 31 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408171