https://www.taxtmi.com/caselaws?id=432912 The Tribunal allowed the appeal of the assessee, directing the deletion of the impugned addition of Rs.1,49,056/- on purchases treated as unexplained expenditure. The Tribunal found that the reopening of assessment proceedings and reassessment order lacked valid jurisdiction and were initiated without obtaining approval from the prescribed authority. The Tribunal also noted that the additions made were arbitrary, lacked basis, and were not supported by concrete evidence, ultimately ruling in favor of the assessee based on precedents and reasoning provided. en-us Thu, 05 Jan 2023 00:00:00 +0530 Tue, 17 Jan 2023 06:33:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432912 The Tribunal allowed the appeal of the assessee, directing the deletion of the impugned addition of Rs.1,49,056/- on purchases treated as unexplained expenditure. The Tribunal found that the reopening of assessment proceedings and reassessment order lacked valid jurisdiction and were initiated without obtaining approval from the prescribed authority. The Tribunal also noted that the additions made were arbitrary, lacked basis, and were not supported by concrete evidence, ultimately ruling in favor of the assessee based on precedents and reasoning provided. Case-Laws Income Tax Thu, 05 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432912