https://www.taxtmi.com/caselaws?id=371520 The Tribunal allowed the appeals, quashing the reopening of assessments under section 147/148, deleting additions for unexplained cash deposits, and canceling penalties under section 271(1)(c). The Tribunal found inconsistencies in reasons for reopening, lack of valid basis, and failure to establish a nexus between deposits and undisclosed income. en-us Mon, 03 Dec 2018 00:00:00 +0530 Tue, 04 Dec 2018 14:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371520 The Tribunal allowed the appeals, quashing the reopening of assessments under section 147/148, deleting additions for unexplained cash deposits, and canceling penalties under section 271(1)(c). The Tribunal found inconsistencies in reasons for reopening, lack of valid basis, and failure to establish a nexus between deposits and undisclosed income. Case-Laws Income Tax Mon, 03 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371520