https://www.taxtmi.com/caselaws?id=284976 The Tribunal quashed the reassessment proceedings initiated under Section 147 of the Income Tax Act, 1961, as the reasons provided by the Assessing Officer were deemed insufficient to justify the reopening of the assessment. The Tribunal emphasized that mere cash deposits in a bank account do not automatically indicate income escaping assessment. The reassessment order was set aside, and the appeal was allowed on 9th August 2016. en-us Tue, 09 Aug 2016 00:00:00 +0530 Fri, 20 Dec 2019 09:55:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284976 The Tribunal quashed the reassessment proceedings initiated under Section 147 of the Income Tax Act, 1961, as the reasons provided by the Assessing Officer were deemed insufficient to justify the reopening of the assessment. The Tribunal emphasized that mere cash deposits in a bank account do not automatically indicate income escaping assessment. The reassessment order was set aside, and the appeal was allowed on 9th August 2016. Case-Laws Income Tax Tue, 09 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284976