https://www.taxtmi.com/caselaws?id=417265 The Tribunal dismissed the Revenue's appeals for AY 2005-06 and upheld the CIT(A)'s decision to delete the addition of Rs. 1,85,00,000 for that year. The reopening of assessments for AY 2005-06 and AY 2006-07 was deemed valid. The addition of Rs. 1,85,00,000 as unexplained investment under section 69 for AY 2006-07 was upheld, as the assessee failed to provide sufficient evidence to explain the source of the advance. The Tribunal confirmed the orders of the CIT(A) and dismissed the appeals and cross-objections, maintaining the assessment outcomes. en-us Mon, 29 Nov 2021 00:00:00 +0530 Wed, 19 Jan 2022 08:53:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417265 The Tribunal dismissed the Revenue's appeals for AY 2005-06 and upheld the CIT(A)'s decision to delete the addition of Rs. 1,85,00,000 for that year. The reopening of assessments for AY 2005-06 and AY 2006-07 was deemed valid. The addition of Rs. 1,85,00,000 as unexplained investment under section 69 for AY 2006-07 was upheld, as the assessee failed to provide sufficient evidence to explain the source of the advance. The Tribunal confirmed the orders of the CIT(A) and dismissed the appeals and cross-objections, maintaining the assessment outcomes. Case-Laws Income Tax Mon, 29 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417265