https://www.taxtmi.com/caselaws?id=770815 The Tribunal dismissed both the Revenue's and assessee's appeals. It upheld the CIT(A)'s deletion of two key additions: Rs. 8.49 crores for alleged bogus hotel construction expenses and Rs. 42.08 crores for alleged fictitious share sale losses. The Tribunal applied the principle of finality in tax proceedings, ruling that issues conclusively decided in original assessment cannot be reopened without fresh material. The reopening challenge was dismissed as not pressed by the assessee. en-us Fri, 09 May 2025 00:00:00 +0530 Fri, 16 May 2025 08:40:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770815 The Tribunal dismissed both the Revenue's and assessee's appeals. It upheld the CIT(A)'s deletion of two key additions: Rs. 8.49 crores for alleged bogus hotel construction expenses and Rs. 42.08 crores for alleged fictitious share sale losses. The Tribunal applied the principle of finality in tax proceedings, ruling that issues conclusively decided in original assessment cannot be reopened without fresh material. The reopening challenge was dismissed as not pressed by the assessee. Case-Laws Income Tax Fri, 09 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770815