https://www.taxtmi.com/caselaws?id=439194 The appeal challenged the addition made on account of unexplained cash credit under section 68 for the assessment year 2008-09. The Tribunal ruled in favor of the assessee, declaring the assessment void ab initio as the reasons for reopening the case did not indicate income escapement but focused on verifying the source of investment. Consequently, the appeal was allowed based on the invalidity of the assessment order, and the decision was pronounced in Open Court on 14/06/2023. en-us Wed, 14 Jun 2023 00:00:00 +0530 Mon, 19 Jun 2023 10:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439194 The appeal challenged the addition made on account of unexplained cash credit under section 68 for the assessment year 2008-09. The Tribunal ruled in favor of the assessee, declaring the assessment void ab initio as the reasons for reopening the case did not indicate income escapement but focused on verifying the source of investment. Consequently, the appeal was allowed based on the invalidity of the assessment order, and the decision was pronounced in Open Court on 14/06/2023. Case-Laws Income Tax Wed, 14 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439194