https://www.taxtmi.com/caselaws?id=298098 The Tribunal partially allowed the assessee's appeals, overturning the additions made by the Assessing Officer under sections 68 and 69C of the Income Tax Act. However, the Tribunal upheld the reopening of assessment proceedings under section 147 read with section 148. The Tribunal found that the AO lacked concrete evidence to support the claim that the transactions were non-genuine, leading to the deletion of the additions under sections 68 and 69C. The decision was influenced by legal reasoning and judicial precedents cited during the proceedings. en-us Wed, 23 Dec 2020 00:00:00 +0530 Sun, 10 Oct 2021 12:03:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298098 The Tribunal partially allowed the assessee's appeals, overturning the additions made by the Assessing Officer under sections 68 and 69C of the Income Tax Act. However, the Tribunal upheld the reopening of assessment proceedings under section 147 read with section 148. The Tribunal found that the AO lacked concrete evidence to support the claim that the transactions were non-genuine, leading to the deletion of the additions under sections 68 and 69C. The decision was influenced by legal reasoning and judicial precedents cited during the proceedings. Case-Laws Income Tax Wed, 23 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298098