https://www.taxtmi.com/caselaws?id=377221 The Tribunal upheld the validity of the reassessment proceedings initiated by the Assessing Officer under Section 148 of the Income Tax Act, dismissing the grounds challenging it. However, the Tribunal allowed the grounds related to the addition of Rs. 20,30,415 under Section 68 and non-compliance with principles of natural justice. The issue of addition was remanded back to the Assessing Officer for further examination and granting the assessee a final opportunity to substantiate the source of the deposits. The appeal by the assessee was partly allowed for statistical purposes. en-us Wed, 12 Dec 2018 00:00:00 +0530 Tue, 26 Mar 2019 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377221 The Tribunal upheld the validity of the reassessment proceedings initiated by the Assessing Officer under Section 148 of the Income Tax Act, dismissing the grounds challenging it. However, the Tribunal allowed the grounds related to the addition of Rs. 20,30,415 under Section 68 and non-compliance with principles of natural justice. The issue of addition was remanded back to the Assessing Officer for further examination and granting the assessee a final opportunity to substantiate the source of the deposits. The appeal by the assessee was partly allowed for statistical purposes. Case-Laws Income Tax Wed, 12 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377221