https://www.taxtmi.com/caselaws?id=368012 The Tribunal upheld the validity of the assessment order, ruling that it was completed within a reasonable timeframe and did not violate natural justice principles. It held that the notice under section 143(2) was not required as the assessee failed to file a return of income. The additions under section 68 were deemed justified as the deposits were explained as advances received against the sale of plots. The Tribunal also confirmed the CIT(A)'s powers to make additions and dismissed the assessee's arguments regarding the availability of cash for unexplained deposits and verification of returned advances. The appeal was dismissed, affirming the assessment order and additions. en-us Thu, 20 Sep 2018 00:00:00 +0530 Sat, 29 Sep 2018 06:48:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368012 The Tribunal upheld the validity of the assessment order, ruling that it was completed within a reasonable timeframe and did not violate natural justice principles. It held that the notice under section 143(2) was not required as the assessee failed to file a return of income. The additions under section 68 were deemed justified as the deposits were explained as advances received against the sale of plots. The Tribunal also confirmed the CIT(A)'s powers to make additions and dismissed the assessee's arguments regarding the availability of cash for unexplained deposits and verification of returned advances. The appeal was dismissed, affirming the assessment order and additions. Case-Laws Income Tax Thu, 20 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368012