https://www.taxtmi.com/caselaws?id=206304 The Tribunal upheld the reopening of assessments under section 147 for the years 2000-01 to 2004-05, finding the proper procedure was followed. Notices under section 148 were deemed valid for certain years but invalid for others due to subsequent notices during pending proceedings. The estimation of commission income was adjusted to 0.2% of turnover for specific years. Cash deposits in bank accounts were considered part of the business and not treated as unexplained income. Assessments for 2001-02 to 2004-05 were annulled, while those for 2000-01 and 2005-06 were partially allowed for the assessee. en-us Fri, 28 Jan 2011 00:00:00 +0530 Sat, 08 Oct 2022 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206304 The Tribunal upheld the reopening of assessments under section 147 for the years 2000-01 to 2004-05, finding the proper procedure was followed. Notices under section 148 were deemed valid for certain years but invalid for others due to subsequent notices during pending proceedings. The estimation of commission income was adjusted to 0.2% of turnover for specific years. Cash deposits in bank accounts were considered part of the business and not treated as unexplained income. Assessments for 2001-02 to 2004-05 were annulled, while those for 2000-01 and 2005-06 were partially allowed for the assessee. Case-Laws Income Tax Fri, 28 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206304