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of ITAT holds the reassessment proceedings under s.148A valid because the assessee failed to respond to notice u/s 148A(b), distinguishing the matter from the co-ordinate bench decision; the challenge to initiation of reassessment is therefore rejected. On merits under s.69, the Tribunal accepts the assessee's contemporaneous explanation - remittances from foreign employment, bank withdrawals, gift from mother and sale of old jewellery - for the total investment in the property, and finds no satisfactory material from the Revenue to displace that explanation. Consequently, additions of Rs.7,00,000 (Rs.2,00,000 cheque; Rs.5,00,000 cash) are deleted and the impugned additions under s.69 are set aside.
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