https://www.taxtmi.com/caselaws?id=417689 The Tribunal partly allowed the appeal, upholding the validity of the re-assessment proceedings under Section 147 of the Income Tax Act, 1961. However, the addition of Rs. 1 crore as unexplained credit under Section 68 was challenged successfully due to violation of natural justice principles. The issue was remanded to the Assessing Officer for reconsideration, directing the assessee to be given a fair opportunity to present evidence and cross-examine witnesses. en-us Thu, 27 Jan 2022 00:00:00 +0530 Sat, 29 Jan 2022 08:44:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417689 The Tribunal partly allowed the appeal, upholding the validity of the re-assessment proceedings under Section 147 of the Income Tax Act, 1961. However, the addition of Rs. 1 crore as unexplained credit under Section 68 was challenged successfully due to violation of natural justice principles. The issue was remanded to the Assessing Officer for reconsideration, directing the assessee to be given a fair opportunity to present evidence and cross-examine witnesses. Case-Laws Income Tax Thu, 27 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417689