https://www.taxtmi.com/highlights?id=76514 Reopening of assessment u/s 147/148 - reasons to believe - The Tribunal upheld the validity of the reopening, considering the reasons recorded by the Assessing Officer as based on tangible material. While the assessee failed to provide satisfactory evidence to explain the cash deposits, the Tribunal allowed partial relief by directing a 10% disallowance of the balance amount of the addition. The Tribunal's decision aimed at ensuring fairness and justice, taking into account the circumstances of the case. en-us Wed, 10 Apr 2024 10:06:24 +0530 Wed, 10 Apr 2024 10:06:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=76514 Reopening of assessment u/s 147/148 - reasons to believe - The Tribunal upheld the validity of the reopening, considering the reasons recorded by the Assessing Officer as based on tangible material. While the assessee failed to provide satisfactory evidence to explain the cash deposits, the Tribunal allowed partial relief by directing a 10% disallowance of the balance amount of the addition. The Tribunal's decision aimed at ensuring fairness and justice, taking into account the circumstances of the case. Highlights Income Tax Wed, 10 Apr 2024 10:06:24 +0530 https://www.taxtmi.com/highlights?id=76514