https://www.taxtmi.com/caselaws?id=192649 The court dismissed the appeals, affirming the assessment of income under the Income-tax Act despite asset attachment under the Criminal Law Amendment Ordinance. It rejected claims of double taxation due to lack of nexus between bank deposits and investments. The court upheld the reassessment under section 147 based on various grounds and denied the challenge to additions from third-party statements without cross-examination. The Revenue prevailed over the assessee, and the Income-tax Department's assessments and penalties were upheld. en-us Wed, 22 Jun 2016 00:00:00 +0530 Fri, 09 Jun 2017 05:34:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192649 The court dismissed the appeals, affirming the assessment of income under the Income-tax Act despite asset attachment under the Criminal Law Amendment Ordinance. It rejected claims of double taxation due to lack of nexus between bank deposits and investments. The court upheld the reassessment under section 147 based on various grounds and denied the challenge to additions from third-party statements without cross-examination. The Revenue prevailed over the assessee, and the Income-tax Department's assessments and penalties were upheld. Case-Laws Income Tax Wed, 22 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192649