https://www.taxtmi.com/caselaws?id=411994 The Tribunal allowed the appeal of the assessee, holding that the Assessing Officer exceeded jurisdiction by making substantive additions on a new issue in the reassessment proceedings. The addition of Rs. 12.41 crores in the assessee's hands was deemed unjustified as it was already included in another party's assessment, and the source of the deposits was satisfactorily explained. The Tribunal directed the deletion of the Rs. 12.41 crores addition. en-us Fri, 27 Aug 2021 00:00:00 +0530 Wed, 08 Sep 2021 08:33:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411994 The Tribunal allowed the appeal of the assessee, holding that the Assessing Officer exceeded jurisdiction by making substantive additions on a new issue in the reassessment proceedings. The addition of Rs. 12.41 crores in the assessee's hands was deemed unjustified as it was already included in another party's assessment, and the source of the deposits was satisfactorily explained. The Tribunal directed the deletion of the Rs. 12.41 crores addition. Case-Laws Income Tax Fri, 27 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411994