https://www.taxtmi.com/caselaws?id=756713 ITAT Bangalore dismissed the assessee's appeal regarding reopening of assessment under section 148. The tribunal upheld additions for undisclosed investments in jewellery under section 69, as the assessee failed to substantiate agricultural income or savings of the jewellery buyer with credible evidence. Additionally, the tribunal confirmed addition under section 56(2) for beneficial ownership of 50% share in jointly purchased property without consideration, as the assessee could not provide evidence of actual payment or loan documentation to support her claims. en-us Mon, 03 Jun 2024 00:00:00 +0530 Tue, 06 Aug 2024 12:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756713 ITAT Bangalore dismissed the assessee's appeal regarding reopening of assessment under section 148. The tribunal upheld additions for undisclosed investments in jewellery under section 69, as the assessee failed to substantiate agricultural income or savings of the jewellery buyer with credible evidence. Additionally, the tribunal confirmed addition under section 56(2) for beneficial ownership of 50% share in jointly purchased property without consideration, as the assessee could not provide evidence of actual payment or loan documentation to support her claims. Case-Laws Income Tax Mon, 03 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756713