https://www.taxtmi.com/caselaws?id=175446 Reassessment under section 148 was held unsustainable because the recorded reasons were not furnished to the assessee and the objections were not disposed of by a speaking order before completion of reassessment. On the merits, agricultural income from HUF-owned and cultivated lands, supported by contemporaneous records, could not be taxed in the assessee's hands, and the related unexplained investment addition also failed for want of evidentiary support. The vehicle maintenance disallowance was deleted because it rested on a bare comparison with earlier expenditure and not on a proper factual examination of the business circumstances. The Revenue's additions were therefore not sustained. en-us Fri, 21 May 2010 00:00:00 +0530 Sat, 21 Nov 2015 14:32:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175446 Reassessment under section 148 was held unsustainable because the recorded reasons were not furnished to the assessee and the objections were not disposed of by a speaking order before completion of reassessment. On the merits, agricultural income from HUF-owned and cultivated lands, supported by contemporaneous records, could not be taxed in the assessee's hands, and the related unexplained investment addition also failed for want of evidentiary support. The vehicle maintenance disallowance was deleted because it rested on a bare comparison with earlier expenditure and not on a proper factual examination of the business circumstances. The Revenue's additions were therefore not sustained. Case-Laws Income Tax Fri, 21 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175446