https://www.taxtmi.com/caselaws?id=402693 The Ld. CIT(A) partially upheld the jurisdiction of the Assessing Officer for framing the assessment under sections 147/143(3) of the Act, granting relief only in specific instances based on discrepancies in bank statements. The Tribunal found the notice under section 148 of the Act to be invalid due to delays in dispatch, leading to the proceedings being time-barred. While concerns about the Assessing Officer's inquiry were raised, the Tribunal's decision primarily focused on notice validity and jurisdiction, resulting in the appeal's allowance without extensive discussion on other grounds, such as unexplained expenditure under section 69C of the Act. en-us Mon, 04 Jan 2021 00:00:00 +0530 Sat, 09 Jan 2021 22:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402693 The Ld. CIT(A) partially upheld the jurisdiction of the Assessing Officer for framing the assessment under sections 147/143(3) of the Act, granting relief only in specific instances based on discrepancies in bank statements. The Tribunal found the notice under section 148 of the Act to be invalid due to delays in dispatch, leading to the proceedings being time-barred. While concerns about the Assessing Officer's inquiry were raised, the Tribunal's decision primarily focused on notice validity and jurisdiction, resulting in the appeal's allowance without extensive discussion on other grounds, such as unexplained expenditure under section 69C of the Act. Case-Laws Income Tax Mon, 04 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402693