https://www.taxtmi.com/caselaws?id=150736 The Appellate Tribunal ITAT Delhi upheld the jurisdiction of the Assessing Officer (AO) under section 144 of the Income Tax Act, confirming the validity of the assessment despite the absence of a notice under section 143(2). Additionally, the Tribunal upheld the addition of Rs. 3,33,30,600 as income from undisclosed sources due to the lack of explanation for cash deposits and failure to link them to business activities. The application of an 8% net profit rate on turnover was deemed appropriate, with directions for potential adjustments against unexplained bank deposits. en-us Fri, 26 Mar 2010 00:00:00 +0530 Wed, 22 May 2013 11:28:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=150736 The Appellate Tribunal ITAT Delhi upheld the jurisdiction of the Assessing Officer (AO) under section 144 of the Income Tax Act, confirming the validity of the assessment despite the absence of a notice under section 143(2). Additionally, the Tribunal upheld the addition of Rs. 3,33,30,600 as income from undisclosed sources due to the lack of explanation for cash deposits and failure to link them to business activities. The application of an 8% net profit rate on turnover was deemed appropriate, with directions for potential adjustments against unexplained bank deposits. Case-Laws Income Tax Fri, 26 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=150736