https://www.taxtmi.com/caselaws?id=246933 The Tribunal quashed the reassessment proceedings due to the improper application of mind by the Assessing Officer and the invalidity of the notice issued under section 148 of the Income Tax Act. The Tribunal found that the reopening of the assessment beyond four years was not permissible, rendering the notice invalid. Consequently, the addition made by the AO as unexplained cash credits was also deemed incorrect, and the reassessment proceedings were held to be bad in law. The appeal filed by the assessee was allowed. en-us Tue, 04 Mar 2014 00:00:00 +0530 Sat, 26 Apr 2014 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246933 The Tribunal quashed the reassessment proceedings due to the improper application of mind by the Assessing Officer and the invalidity of the notice issued under section 148 of the Income Tax Act. The Tribunal found that the reopening of the assessment beyond four years was not permissible, rendering the notice invalid. Consequently, the addition made by the AO as unexplained cash credits was also deemed incorrect, and the reassessment proceedings were held to be bad in law. The appeal filed by the assessee was allowed. Case-Laws Income Tax Tue, 04 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246933