https://www.taxtmi.com/caselaws?id=777805 ITAT quashed the reopening under section 147, finding the AO's reasons were mere replication of an investigation report without independent application of mind. The addition under section 68 was deleted because the alleged loan was repaid within the same year, providing no benefit to the taxpayer; on merits the tribunal followed relevant precedent and set aside the addition sustained by the CIT(A). The taxpayer's appeal was allowed. en-us Wed, 03 Sep 2025 00:00:00 +0530 Fri, 05 Sep 2025 08:10:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777805 ITAT quashed the reopening under section 147, finding the AO's reasons were mere replication of an investigation report without independent application of mind. The addition under section 68 was deleted because the alleged loan was repaid within the same year, providing no benefit to the taxpayer; on merits the tribunal followed relevant precedent and set aside the addition sustained by the CIT(A). The taxpayer's appeal was allowed. Case-Laws Income Tax Wed, 03 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777805