https://www.taxtmi.com/caselaws?id=333080 The High Court set aside the notice to reopen the assessment for the assessment year 2006-2007 due to incongruence in the Assessing Officer's actions, who had previously attempted to tax income for the assessment year 2007-2008 on similar grounds. The Assessing Officer's attempt to reopen the assessment for the earlier year lacked further evidence and was not supported, leading to the notice being deemed invalid. The Tribunal and CIT(Appeals) ruled in favor of the bank, stating that the source of deposits was explained satisfactorily, and objections raised against the notice were rejected. en-us Tue, 27 Sep 2016 00:00:00 +0530 Tue, 04 Oct 2016 13:28:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333080 The High Court set aside the notice to reopen the assessment for the assessment year 2006-2007 due to incongruence in the Assessing Officer's actions, who had previously attempted to tax income for the assessment year 2007-2008 on similar grounds. The Assessing Officer's attempt to reopen the assessment for the earlier year lacked further evidence and was not supported, leading to the notice being deemed invalid. The Tribunal and CIT(Appeals) ruled in favor of the bank, stating that the source of deposits was explained satisfactorily, and objections raised against the notice were rejected. Case-Laws Income Tax Tue, 27 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333080