https://www.taxtmi.com/caselaws?id=184970 The Tribunal dismissed the assessee's appeal, upholding the reassessment under sections 147/148 of the IT Act, 1961. The Tribunal found that the assessee had waived the right to challenge the non-service of notice under section 148 by participating in the assessment proceedings. Additionally, the Tribunal upheld the addition of the gift amount as unexplained cash credit, as the assessee failed to prove the genuineness and capacity of the donor to give the gift, based on the donor's contradictory statements and suspicious circumstances. en-us Thu, 19 Jul 2007 00:00:00 +0530 Tue, 26 Jul 2016 18:12:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184970 The Tribunal dismissed the assessee's appeal, upholding the reassessment under sections 147/148 of the IT Act, 1961. The Tribunal found that the assessee had waived the right to challenge the non-service of notice under section 148 by participating in the assessment proceedings. Additionally, the Tribunal upheld the addition of the gift amount as unexplained cash credit, as the assessee failed to prove the genuineness and capacity of the donor to give the gift, based on the donor's contradictory statements and suspicious circumstances. Case-Laws Income Tax Thu, 19 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184970