https://www.taxtmi.com/caselaws?id=754253 The Tribunal dismissed the appeal concerning the reopening of the case under section 147 but allowed the appeal against the addition of the unsecured loan under section 68. The Tribunal concluded that the appellant sufficiently demonstrated the source and utilization of the loan, thereby invalidating the Assessing Officer's concerns. The appellant's evidence, including bank statements and investment details, substantiated the legitimacy of the transaction. Consequently, the Tribunal partly allowed the appeal of the assessee, pronouncing its order on 12-01-2024. en-us Fri, 12 Jan 2024 00:00:00 +0530 Thu, 20 Jun 2024 08:36:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754253 The Tribunal dismissed the appeal concerning the reopening of the case under section 147 but allowed the appeal against the addition of the unsecured loan under section 68. The Tribunal concluded that the appellant sufficiently demonstrated the source and utilization of the loan, thereby invalidating the Assessing Officer's concerns. The appellant's evidence, including bank statements and investment details, substantiated the legitimacy of the transaction. Consequently, the Tribunal partly allowed the appeal of the assessee, pronouncing its order on 12-01-2024. Case-Laws Income Tax Fri, 12 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754253