https://www.taxtmi.com/caselaws?id=429229 The Tribunal ruled in favor of the assessee, finding the reopening of the assessment under Section 147 invalid due to factual misconceptions and non-application of mind by the AO. Additionally, the addition of Rs.40,80,000 made by the AO was deemed unsustainable as the assessee provided substantial evidence establishing the genuineness of the loan transaction. The appeal was allowed, and the order was pronounced in August 2022. en-us Wed, 31 Aug 2022 00:00:00 +0530 Thu, 20 Oct 2022 09:32:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429229 The Tribunal ruled in favor of the assessee, finding the reopening of the assessment under Section 147 invalid due to factual misconceptions and non-application of mind by the AO. Additionally, the addition of Rs.40,80,000 made by the AO was deemed unsustainable as the assessee provided substantial evidence establishing the genuineness of the loan transaction. The appeal was allowed, and the order was pronounced in August 2022. Case-Laws Income Tax Wed, 31 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429229