https://www.taxtmi.com/caselaws?id=60097 The Tribunal upheld the validity of reopening the original assessment under section 147 based on new information. The addition of Rs. 2,00,000 as unexplained cash payment was deleted due to a change of opinion by the ITO. Rs. 25,000 added as income from undisclosed business was upheld as the assessee failed to provide contrary evidence. The issue of Rs. 70,000 on unexplained gifts was remanded for fresh decision. The Tribunal clarified the charging of interest under sections 139(8) and 217. The ex parte assessment order was deemed justified. ITA No. 551/Cal./90 was allowed for statistical purposes, while ITA No. 552/Cal./90 and ITA No. 3912/Cal./92 were partly allowed. en-us Tue, 31 Dec 1996 00:00:00 +0530 Mon, 03 Jan 2011 16:52:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60097 The Tribunal upheld the validity of reopening the original assessment under section 147 based on new information. The addition of Rs. 2,00,000 as unexplained cash payment was deleted due to a change of opinion by the ITO. Rs. 25,000 added as income from undisclosed business was upheld as the assessee failed to provide contrary evidence. The issue of Rs. 70,000 on unexplained gifts was remanded for fresh decision. The Tribunal clarified the charging of interest under sections 139(8) and 217. The ex parte assessment order was deemed justified. ITA No. 551/Cal./90 was allowed for statistical purposes, while ITA No. 552/Cal./90 and ITA No. 3912/Cal./92 were partly allowed. Case-Laws Income Tax Tue, 31 Dec 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60097