https://www.taxtmi.com/caselaws?id=409203 The Tribunal upheld the validity of the notice issued under section 148 and initiation of proceedings under section 147, citing credible material and precedents. The assessment order was challenged due to lack of opportunity to be heard, leading to a re-examination by the Assessing Officer for fair play. The addition of cash deposited as income from undisclosed sources was partially confirmed, emphasizing the need for thorough verification and a fair opportunity for the assessee to explain. The appeal was allowed in part, stressing the importance of a comprehensive assessment process in determining undisclosed income. en-us Fri, 25 Jun 2021 00:00:00 +0530 Fri, 02 Jul 2021 08:58:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409203 The Tribunal upheld the validity of the notice issued under section 148 and initiation of proceedings under section 147, citing credible material and precedents. The assessment order was challenged due to lack of opportunity to be heard, leading to a re-examination by the Assessing Officer for fair play. The addition of cash deposited as income from undisclosed sources was partially confirmed, emphasizing the need for thorough verification and a fair opportunity for the assessee to explain. The appeal was allowed in part, stressing the importance of a comprehensive assessment process in determining undisclosed income. Case-Laws Income Tax Fri, 25 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409203