https://www.taxtmi.com/caselaws?id=423628 The Tribunal allowed the appeals filed by the assessee, setting aside the CIT(A)'s orders and directing the AO to delete the additions. The reassessment proceedings were deemed baseless as they lacked new material facts. The Tribunal found the creditors to be genuine, supported by substantial evidence provided by the assessee, emphasizing the importance of valid reasons and evidence in such assessments. en-us Mon, 23 May 2022 00:00:00 +0530 Thu, 09 Jun 2022 22:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423628 The Tribunal allowed the appeals filed by the assessee, setting aside the CIT(A)'s orders and directing the AO to delete the additions. The reassessment proceedings were deemed baseless as they lacked new material facts. The Tribunal found the creditors to be genuine, supported by substantial evidence provided by the assessee, emphasizing the importance of valid reasons and evidence in such assessments. Case-Laws Income Tax Mon, 23 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423628