https://www.taxtmi.com/caselaws?id=304021 The Tribunal dismissed the Revenue's appeal regarding the reopening of assessment under section 148 and the addition of Rs.45,00,000 as unexplained credit under section 68 of the IT Act, 1961. It found discrepancies in the AO's actions, confirmed the correct amount received by the assessee, and upheld the CIT(A)'s decision to dismiss the Revenue's appeal based on the evidence provided by the assessee. The Tribunal concluded that the AO failed to discredit the evidence, leading to the deletion of the addition made by the AO. en-us Wed, 30 Sep 2015 00:00:00 +0530 Fri, 02 Sep 2022 06:12:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304021 The Tribunal dismissed the Revenue's appeal regarding the reopening of assessment under section 148 and the addition of Rs.45,00,000 as unexplained credit under section 68 of the IT Act, 1961. It found discrepancies in the AO's actions, confirmed the correct amount received by the assessee, and upheld the CIT(A)'s decision to dismiss the Revenue's appeal based on the evidence provided by the assessee. The Tribunal concluded that the AO failed to discredit the evidence, leading to the deletion of the addition made by the AO. Case-Laws Income Tax Wed, 30 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304021