https://www.taxtmi.com/caselaws?id=388853 The Tribunal allowed the appeal, ruling in favor of the appellant on all issues. It found the initiation of reassessment proceedings under section 148 to lack concrete justification, referencing previous cases where jurisdiction under section 148 was deemed unjustified. The Tribunal also accepted the appellant's arguments regarding unexplained investment under section 69, noting the lack of a direct nexus to the investigation. Additionally, the Tribunal agreed with the appellant's explanations for unexplained cash deposits under section 68, deeming the reassessment and additions baseless. en-us Fri, 22 Nov 2019 00:00:00 +0530 Mon, 25 Nov 2019 10:28:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388853 The Tribunal allowed the appeal, ruling in favor of the appellant on all issues. It found the initiation of reassessment proceedings under section 148 to lack concrete justification, referencing previous cases where jurisdiction under section 148 was deemed unjustified. The Tribunal also accepted the appellant's arguments regarding unexplained investment under section 69, noting the lack of a direct nexus to the investigation. Additionally, the Tribunal agreed with the appellant's explanations for unexplained cash deposits under section 68, deeming the reassessment and additions baseless. Case-Laws Income Tax Fri, 22 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388853