https://www.taxtmi.com/caselaws?id=771819 ITAT Jaipur allowed the assessee's appeal against reopening of assessment under section 147. The AO had reopened assessment claiming the assessee failed to disclose commission income from a ponzi scheme. However, the tribunal found that the assessee had already reflected both income and related amounts in the return. The tribunal directed the AO to consider payments made by the assessee to the company, allow proper deductions per rules, and recalculate total income accordingly. en-us Wed, 28 May 2025 00:00:00 +0530 Fri, 30 May 2025 09:29:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771819 ITAT Jaipur allowed the assessee's appeal against reopening of assessment under section 147. The AO had reopened assessment claiming the assessee failed to disclose commission income from a ponzi scheme. However, the tribunal found that the assessee had already reflected both income and related amounts in the return. The tribunal directed the AO to consider payments made by the assessee to the company, allow proper deductions per rules, and recalculate total income accordingly. Case-Laws Income Tax Wed, 28 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771819