https://www.taxtmi.com/caselaws?id=771282 The ITAT Mumbai dismissed the revenue's appeal challenging the reopening of assessments and additions under Section 68. The tribunal held that the AO lacked power to reopen assessments passed in compliance with ITSC orders under Section 245D, as the assessee had already made full and true disclosure of income before the ITSC at specified rates for different types of contract work. Regarding Section 68 additions, the tribunal found transactions genuine based on account payee cheque payments and directed deletion of unexplained credit additions, upholding the CIT(A)'s decision. en-us Wed, 30 Apr 2025 00:00:00 +0530 Fri, 23 May 2025 08:46:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771282 The ITAT Mumbai dismissed the revenue's appeal challenging the reopening of assessments and additions under Section 68. The tribunal held that the AO lacked power to reopen assessments passed in compliance with ITSC orders under Section 245D, as the assessee had already made full and true disclosure of income before the ITSC at specified rates for different types of contract work. Regarding Section 68 additions, the tribunal found transactions genuine based on account payee cheque payments and directed deletion of unexplained credit additions, upholding the CIT(A)'s decision. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771282