https://www.taxtmi.com/caselaws?id=313932 ITAT Jodhpur upheld the reopening of assessment u/s 147 based on statement recorded during search and documents found, finding no infirmity in AO's speaking reasons concluding income escaped assessment. However, regarding addition u/s 69 for unexplained investment in plot purchase, ITAT directed deletion of addition following Dhirendra Singh precedent, ruling that additions cannot be made solely on statement basis without corroborative material and without allowing assessee opportunity to cross-examine the person whose statement formed basis of addition. Appeal decided partly in favour of assessee. en-us Thu, 19 Mar 2020 00:00:00 +0530 Wed, 08 May 2024 20:12:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313932 ITAT Jodhpur upheld the reopening of assessment u/s 147 based on statement recorded during search and documents found, finding no infirmity in AO's speaking reasons concluding income escaped assessment. However, regarding addition u/s 69 for unexplained investment in plot purchase, ITAT directed deletion of addition following Dhirendra Singh precedent, ruling that additions cannot be made solely on statement basis without corroborative material and without allowing assessee opportunity to cross-examine the person whose statement formed basis of addition. Appeal decided partly in favour of assessee. Case-Laws Income Tax Thu, 19 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313932