https://www.taxtmi.com/caselaws?id=256060 The tribunal quashed the reassessment proceedings initiated based on cash deposits in the assessee's bank account for the assessment year 2008-09. It was held that the reasons for reopening the assessment were insufficient as they did not establish a clear link between the cash deposits and income escaping assessment. The tribunal emphasized that reassessment cannot be done merely for further inquiries without specific evidence of income escaping assessment. Consequently, the appeal was allowed, and the reassessment was deemed invalid. en-us Tue, 20 Jan 2015 00:00:00 +0530 Tue, 05 May 2026 18:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256060 The tribunal quashed the reassessment proceedings initiated based on cash deposits in the assessee's bank account for the assessment year 2008-09. It was held that the reasons for reopening the assessment were insufficient as they did not establish a clear link between the cash deposits and income escaping assessment. The tribunal emphasized that reassessment cannot be done merely for further inquiries without specific evidence of income escaping assessment. Consequently, the appeal was allowed, and the reassessment was deemed invalid. Case-Laws Income Tax Tue, 20 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256060