https://www.taxtmi.com/caselaws?id=68411 The appeals for the assessment year 1979-80 were accepted as the Tribunal ruled in favor of the assessees. The reassessment proceedings were deemed invalid due to the confirmation of deposits by the depositor with legitimate sources of income and the lack of specific information linking the assessees to the alleged lender. The Tribunal's decision in the Assam Tea Company case further supported the assessees' argument against the reopening of assessments based on the lending of name by the searched person. en-us Fri, 25 Feb 2005 00:00:00 +0530 Sat, 03 Sep 2011 18:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68411 The appeals for the assessment year 1979-80 were accepted as the Tribunal ruled in favor of the assessees. The reassessment proceedings were deemed invalid due to the confirmation of deposits by the depositor with legitimate sources of income and the lack of specific information linking the assessees to the alleged lender. The Tribunal's decision in the Assam Tea Company case further supported the assessees' argument against the reopening of assessments based on the lending of name by the searched person. Case-Laws Income Tax Fri, 25 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68411