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2021 (9) TMI 301 - HC - Income TaxReopening of assessment u/s 147 - addition of 'deemed income' u/s.69 - unexplained investment of the amount spent out on the purchase of shares - eligible reason to believe the escapement of 'real income' - Tribunal upholding the reopening by issue of notice u/s.148 - HELD THAT:- Tribunal had considered the factual matrix and taken note of all the grounds urged by the assessee and concurred with the factual findings recorded by the Assessing Officer as well as the CIT(A) that the assessee could not furnish any details regarding the payments received from the Sundry Debtors and that even their names could not be furnished, and that apart, the Tribunal has recorded that the assessee had admitted that income details are available with the assessee and in the absence of any details, the Tribunal rightly held that it is impossible to believe the theory that the assessee had received the payments from its old Sundry Debtors after a gap of two to three years, and accordingly, the appeal was dismissed - No substantial question of law.
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