https://www.taxtmi.com/caselaws?id=201553 The Allahabad HC noted that reassessment notice under section 148 was time-barred and therefore lacked justification; the reassessment challenge was allowed on that basis. It also recorded that the assessee had established the identity, creditworthiness and genuineness of the depositors, supporting the explanation for the credits. On these findings, the department's appeal was dismissed. en-us Wed, 06 Oct 2010 00:00:00 +0530 Mon, 17 Jan 2011 01:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201553 The Allahabad HC noted that reassessment notice under section 148 was time-barred and therefore lacked justification; the reassessment challenge was allowed on that basis. It also recorded that the assessee had established the identity, creditworthiness and genuineness of the depositors, supporting the explanation for the credits. On these findings, the department's appeal was dismissed. Case-Laws Income Tax Wed, 06 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201553