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2022 (11) TMI 521 - ITAT DELHIReopening of assessment u/s 147 - addition u/s 68 & 69C - HELD THAT:- We find that CIT(A) by well reasoned order and after considering the various decisions cited in his order and for reasons given in his order has held the reopening of the assessment u/s 148 to be in accordance with law. As far as addition on merits is concerned, he has given a finding that assessee has not discharged the onus of proving the creditworthiness of the companies who had invested in the assessee company, the genuineness of the transaction nor the assessee could produce the directors of the investing companies before the authorities. Before us, assessee has not placed any material on record to controvert the findings of lower authorities. In such a situation, we find no reason to interfere with the order of CIT(A). Thus the grounds of assessee are dismissed.
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