https://www.taxtmi.com/caselaws?id=463993 ITAT Mumbai (AT) quashed reopening under s.147 because approval under s.151 was not properly granted, following the principle in Broadways Limited. On merits, the tribunal found the assessee had furnished documentary evidence of share purchases, dematerialisation, sales and payments, and AO failed to make enquiries or rebut the assessee's proof; therefore additions under s.68 and denial of exemption under s.10(38) were unsustainable. The assessee's appeal was allowed. en-us Wed, 16 Oct 2024 00:00:00 +0530 Thu, 25 Sep 2025 10:37:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463993 ITAT Mumbai (AT) quashed reopening under s.147 because approval under s.151 was not properly granted, following the principle in Broadways Limited. On merits, the tribunal found the assessee had furnished documentary evidence of share purchases, dematerialisation, sales and payments, and AO failed to make enquiries or rebut the assessee's proof; therefore additions under s.68 and denial of exemption under s.10(38) were unsustainable. The assessee's appeal was allowed. Case-Laws Income Tax Wed, 16 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463993