https://www.taxtmi.com/caselaws?id=366541 The Tribunal held that the second notice issued under section 148 was invalid due to lack of fresh material justifying income escapement and non-compliance with earlier directions. The additions under sections 69C and peak credit in bank accounts were deleted as the explanations provided were deemed acceptable. The levy of interest under sections 234A and 234B was canceled as it was found unjustified. The assessment order passed under sections 143(3) r.w.s. 147 r.w.s. 150(1) was deemed invalid, leading to the annulment of the assessment. The appeal of the assessee was allowed, and the assessment was annulled on 31st August 2018. en-us Fri, 31 Aug 2018 00:00:00 +0530 Thu, 06 Sep 2018 09:10:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366541 The Tribunal held that the second notice issued under section 148 was invalid due to lack of fresh material justifying income escapement and non-compliance with earlier directions. The additions under sections 69C and peak credit in bank accounts were deleted as the explanations provided were deemed acceptable. The levy of interest under sections 234A and 234B was canceled as it was found unjustified. The assessment order passed under sections 143(3) r.w.s. 147 r.w.s. 150(1) was deemed invalid, leading to the annulment of the assessment. The appeal of the assessee was allowed, and the assessment was annulled on 31st August 2018. Case-Laws Income Tax Fri, 31 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366541