https://www.taxtmi.com/caselaws?id=283084 The ITAT Delhi Bench ruled in favor of the assessee, quashing the reopening of the assessment and the addition of Rs. 14,75,000 to the income. The Tribunal held that the Assessing Officer's decision to reopen the assessment based solely on a cash deposit lacked sufficient grounds to establish tax evasion, emphasizing that a mere deposit in a bank account does not automatically imply undisclosed income. The ITAT set aside the lower authorities' orders, declaring the reopening of the assessment as legally flawed and deleting the addition made during reassessment. en-us Fri, 01 Jun 2018 00:00:00 +0530 Fri, 06 Sep 2019 13:31:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283084 The ITAT Delhi Bench ruled in favor of the assessee, quashing the reopening of the assessment and the addition of Rs. 14,75,000 to the income. The Tribunal held that the Assessing Officer's decision to reopen the assessment based solely on a cash deposit lacked sufficient grounds to establish tax evasion, emphasizing that a mere deposit in a bank account does not automatically imply undisclosed income. The ITAT set aside the lower authorities' orders, declaring the reopening of the assessment as legally flawed and deleting the addition made during reassessment. Case-Laws Income Tax Fri, 01 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283084