Allowing the appeal the Tribunal held that Assessment cannot be reopened on basis of statement of unrelated party when no opportunity of cross-examination given hence thee reassessment is bad in law . As regards loan received by cheque and repaid by cheque addition can not be made on the basis of seized document .( AY.2008-09, 2009-10
Picheswar Gadde v. ITO (2021)85 ITR 68 (SN)/ 211 TTJ 887 / 202 DTR 41 (Delhi) (Trib)
S.147: Reassessment- After the expiry of four years- Assessment cannot be reopened on basis of statement of unrelated party — No opportunity of cross-examination given- Reassessment is bad in law – Loan received by cheque and repaid by cheque- Addition can not be made on the basis of seized document [ S.68, 132(4A), 148, 292C ]