https://www.taxtmi.com/caselaws?id=427824 The Tribunal allowed the appeal for statistical purposes, directing a fresh examination of the case on merits without considering the jurisdictional defect of reopening the assessment. It emphasized the substantial evidence of money laundering activities involving the assessee and instructed the CIT(A) to reconsider the legitimacy of the addition made under Section 68 of the Income Tax Act. The Tribunal found the reasons for reopening the assessment valid despite some factual inaccuracies and highlighted the importance of a comprehensive review of the evidence in such cases. en-us Thu, 15 Sep 2022 00:00:00 +0530 Sat, 17 Sep 2022 07:58:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427824 The Tribunal allowed the appeal for statistical purposes, directing a fresh examination of the case on merits without considering the jurisdictional defect of reopening the assessment. It emphasized the substantial evidence of money laundering activities involving the assessee and instructed the CIT(A) to reconsider the legitimacy of the addition made under Section 68 of the Income Tax Act. The Tribunal found the reasons for reopening the assessment valid despite some factual inaccuracies and highlighted the importance of a comprehensive review of the evidence in such cases. Case-Laws Income Tax Thu, 15 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427824