https://www.taxtmi.com/caselaws?id=344764 The tribunal dismissed the challenge to the re-opening of assessment under section 147 of the Income Tax Act due to the appellant's failure to explain the source of deposits. The validity of the re-assessment order without notice under section 143(2) was upheld as the appellant filed the return belatedly. The addition of Rs. 8,71,000 under section 69 was set aside as the appellant proved the earning of genuine agricultural income. The addition of Rs. 2,990 as bank interest was confirmed but not made taxable due to other adjustments. The charging of interest under sections 234A and 234B was deemed consequential. en-us Mon, 06 Mar 2017 00:00:00 +0530 Tue, 27 Jun 2017 15:52:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344764 The tribunal dismissed the challenge to the re-opening of assessment under section 147 of the Income Tax Act due to the appellant's failure to explain the source of deposits. The validity of the re-assessment order without notice under section 143(2) was upheld as the appellant filed the return belatedly. The addition of Rs. 8,71,000 under section 69 was set aside as the appellant proved the earning of genuine agricultural income. The addition of Rs. 2,990 as bank interest was confirmed but not made taxable due to other adjustments. The charging of interest under sections 234A and 234B was deemed consequential. Case-Laws Income Tax Mon, 06 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344764