ITAT Lucknow Upholds Reopening u/s 150; Deletes Unsecured Loan Addition

Alok Kumar Rungta Vs National Faceless Appeal Centre (ITAT Lucknow)

ITAT Lucknow Upholds Reopening Pursuant to CIT(A) Direction u/s 150, Deletes Unsecured Loan Addition

The Lucknow Bench (SMC) of the ITAT partly allowed the assessee’s appeal for AY 2014-15. The Tribunal upheld the validity of reassessment initiated under section 147 pursuant to a direction issued by the CIT(A) under section 150(1), holding that the Assessing Officer was

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