https://www.taxtmi.com/caselaws?id=412644 The Tribunal upheld the validity of reassessment proceedings under Section 147 of the Income Tax Act, 1961, based on incriminating documents found during a search, dismissing the grounds raised by the assessee. The Tribunal ruled in favor of the assessee regarding the addition made without providing an opportunity for cross-examination, deleting the amount added. Additionally, the Tribunal directed the deletion of the unexplained investment addition due to insufficient evidence and lack of adherence to principles of natural justice. The Tribunal set aside the excessive income determination made by the Assessing Officer, partially allowing the assessee's appeal. en-us Tue, 21 Sep 2021 00:00:00 +0530 Thu, 23 Sep 2021 07:06:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412644 The Tribunal upheld the validity of reassessment proceedings under Section 147 of the Income Tax Act, 1961, based on incriminating documents found during a search, dismissing the grounds raised by the assessee. The Tribunal ruled in favor of the assessee regarding the addition made without providing an opportunity for cross-examination, deleting the amount added. Additionally, the Tribunal directed the deletion of the unexplained investment addition due to insufficient evidence and lack of adherence to principles of natural justice. The Tribunal set aside the excessive income determination made by the Assessing Officer, partially allowing the assessee's appeal. Case-Laws Income Tax Tue, 21 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412644