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2017 (5) TMI 1153 - AT - Income TaxReopening of assessment - to reat the share income as unexplained investments u/s.69 - Held that:- Assessee's case case is that the Assessing Officer ought to have disposed of her objections to reopening in question. The case file does not indicate any such recourse taken at assessee’s behest so as to challenge the reopening reasons. We repeat that learned CIT(A)’s findings on merits have gone against the assessee in proving source of the money in question to be arising from sale of shares. Section 147 Explanation 2 squarely applies in facts of instant case wherein the assessee claimed her profits to be arising from share transactions as exempted which were found to have been never carried out. We thus decline assessee’s challenge to this legal aspect of the reopening in question as well. - Decided against assessee.
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