https://www.taxtmi.com/caselaws?id=405775 The Appellate Tribunal allowed the appeal, emphasizing the importance of providing a fair opportunity for the assessee to explain the source of cash deposits and directing the Assessing Officer to conduct the assessment accordingly. The Tribunal dismissed the technical objection regarding the validity of the notice issued under section 148 of the Income Tax Act, upheld the adequacy of opportunity provided during assessment proceedings, clarified the correct legal provision for unexplained income under section 69A, and directed the assessee to provide evidence for cash withdrawals for re-deposit. The issue of levy of interests under sections 234A, 234B, and 234C was not specifically addressed in the judgment. en-us Thu, 18 Mar 2021 00:00:00 +0530 Sat, 27 Mar 2021 07:38:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405775 The Appellate Tribunal allowed the appeal, emphasizing the importance of providing a fair opportunity for the assessee to explain the source of cash deposits and directing the Assessing Officer to conduct the assessment accordingly. The Tribunal dismissed the technical objection regarding the validity of the notice issued under section 148 of the Income Tax Act, upheld the adequacy of opportunity provided during assessment proceedings, clarified the correct legal provision for unexplained income under section 69A, and directed the assessee to provide evidence for cash withdrawals for re-deposit. The issue of levy of interests under sections 234A, 234B, and 234C was not specifically addressed in the judgment. Case-Laws Income Tax Thu, 18 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405775