https://www.taxtmi.com/caselaws?id=768114 ITAT JAIPUR - AT upheld the CIT(A)'s quashing of reopening under s.147, finding the AO acted mechanically on investigation inputs without independent application of mind. Additions under s.68 for alleged share-application/share-capital were deleted as the assessee proved identity, creditworthiness and genuineness; the AO failed to rebut that evidence. Deletion of unsecured-loan additions for subsequent years was affirmed because loans were repaid through banking channels, interest paid, and the impugned third-party statements were retracted; revenue's appeal was dismissed. en-us Tue, 11 Mar 2025 00:00:00 +0530 Mon, 29 Sep 2025 11:24:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768114 ITAT JAIPUR - AT upheld the CIT(A)'s quashing of reopening under s.147, finding the AO acted mechanically on investigation inputs without independent application of mind. Additions under s.68 for alleged share-application/share-capital were deleted as the assessee proved identity, creditworthiness and genuineness; the AO failed to rebut that evidence. Deletion of unsecured-loan additions for subsequent years was affirmed because loans were repaid through banking channels, interest paid, and the impugned third-party statements were retracted; revenue's appeal was dismissed. Case-Laws Income Tax Tue, 11 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768114