https://www.taxtmi.com/caselaws?id=431314 The tribunal upheld the validity of the reopening of assessment under section 147 of the Income-tax Act, 1961, citing tangible material supporting income escapement belief. The additions related to client code modification were upheld as non-genuine, with the appellant failing to counter adverse findings. The disallowance under section 94(7) was initially upheld due to lack of documentation but was granted a reconsideration opportunity by the tribunal. The appeal was partly allowed for statistical purposes, dismissing some grounds and directing reassessment on the disallowance issue. en-us Thu, 27 Oct 2022 00:00:00 +0530 Fri, 09 Dec 2022 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431314 The tribunal upheld the validity of the reopening of assessment under section 147 of the Income-tax Act, 1961, citing tangible material supporting income escapement belief. The additions related to client code modification were upheld as non-genuine, with the appellant failing to counter adverse findings. The disallowance under section 94(7) was initially upheld due to lack of documentation but was granted a reconsideration opportunity by the tribunal. The appeal was partly allowed for statistical purposes, dismissing some grounds and directing reassessment on the disallowance issue. Case-Laws Income Tax Thu, 27 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431314