https://www.taxtmi.com/caselaws?id=56417 The Tribunal allowed the assessee's appeals for the assessment years 1986-87 and 1987-88, directing the deletion of additions made by the AO and cancellation of the reassessment proceedings. The additions of Rs. 12 lakhs as unexplained income from share applications and allotment money and disallowance of bardana purchase expenses were found to be unjustified. The Tribunal also ruled in favor of the assessee regarding entitlement to relief under Sections 80-I and 80HH, invalidity of the reopening of assessment under Section 148 for 1986-87, and the levy of interest under Section 217. en-us Wed, 30 Oct 1996 00:00:00 +0530 Fri, 03 Dec 2010 15:23:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56417 The Tribunal allowed the assessee's appeals for the assessment years 1986-87 and 1987-88, directing the deletion of additions made by the AO and cancellation of the reassessment proceedings. The additions of Rs. 12 lakhs as unexplained income from share applications and allotment money and disallowance of bardana purchase expenses were found to be unjustified. The Tribunal also ruled in favor of the assessee regarding entitlement to relief under Sections 80-I and 80HH, invalidity of the reopening of assessment under Section 148 for 1986-87, and the levy of interest under Section 217. Case-Laws Income Tax Wed, 30 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56417