https://www.taxtmi.com/caselaws?id=416031 The Tribunal ruled in favor of the appellant, quashing the assessment due to the Assessing Officer's lack of credible grounds for reopening the assessment under section 148. The burden of proof on the alleged unexplained expenditure was found to be unjustified, leading to the deletion of the addition made under section 69. The appellant successfully demonstrated legitimate purchases through various evidence, resulting in the deletion of the addition by the AO. The Tribunal also struck down the unlawful addition made by the AO, citing violations of natural justice principles. en-us Wed, 29 Sep 2021 00:00:00 +0530 Sun, 19 Dec 2021 20:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416031 The Tribunal ruled in favor of the appellant, quashing the assessment due to the Assessing Officer's lack of credible grounds for reopening the assessment under section 148. The burden of proof on the alleged unexplained expenditure was found to be unjustified, leading to the deletion of the addition made under section 69. The appellant successfully demonstrated legitimate purchases through various evidence, resulting in the deletion of the addition by the AO. The Tribunal also struck down the unlawful addition made by the AO, citing violations of natural justice principles. Case-Laws Income Tax Wed, 29 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416031