https://www.taxtmi.com/caselaws?id=411588 The Tribunal allowed the appeal, setting aside the lower authorities' orders. The reopening of the assessment under Section 148 was deemed unsustainable as it was based on a mere change of opinion. The addition of Rs. 1,50,00,000 as unexplained cash credit under Section 68 was found unjustified, with the Tribunal emphasizing the submission of all necessary documentary evidence by the assessee. The Tribunal concluded that the assessee had been given adequate opportunity to explain the transactions, ultimately ruling in favor of the assessee. en-us Tue, 24 Aug 2021 00:00:00 +0530 Sat, 28 Aug 2021 16:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411588 The Tribunal allowed the appeal, setting aside the lower authorities' orders. The reopening of the assessment under Section 148 was deemed unsustainable as it was based on a mere change of opinion. The addition of Rs. 1,50,00,000 as unexplained cash credit under Section 68 was found unjustified, with the Tribunal emphasizing the submission of all necessary documentary evidence by the assessee. The Tribunal concluded that the assessee had been given adequate opportunity to explain the transactions, ultimately ruling in favor of the assessee. Case-Laws Income Tax Tue, 24 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411588