https://www.taxtmi.com/caselaws?id=416653 The Tribunal upheld the reopening of the assessment under section 148, finding the Assessing Officer's actions in accordance with due procedure. It directed the deletion of the addition of Rs. 9,00,000, as the assessee satisfactorily explained the source of funds for the property purchase. The Tribunal concluded that the assessee was provided proper opportunities to be heard and participation in the proceedings. The appeal was partly allowed, granting relief to the assessee regarding the unexplained cash credit issue. en-us Thu, 25 Nov 2021 00:00:00 +0530 Tue, 04 Jan 2022 07:23:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416653 The Tribunal upheld the reopening of the assessment under section 148, finding the Assessing Officer's actions in accordance with due procedure. It directed the deletion of the addition of Rs. 9,00,000, as the assessee satisfactorily explained the source of funds for the property purchase. The Tribunal concluded that the assessee was provided proper opportunities to be heard and participation in the proceedings. The appeal was partly allowed, granting relief to the assessee regarding the unexplained cash credit issue. Case-Laws Income Tax Thu, 25 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416653