https://www.taxtmi.com/caselaws?id=415630 The Tribunal allowed the appeal of the assessee, ruling in favor of the assessee on all grounds. The Assessing Officer's jurisdiction under section 148 was found to be flawed due to improper appreciation of facts and lack of requisite approval. The addition of unexplained investment under section 69 was dismissed as the amount had already been assessed in a prior year with no fresh payment made. Similarly, the addition of unexplained cash deposit under section 68 was deemed arbitrary and unjustified as there was no factual basis for the alleged cash deposit. en-us Wed, 27 Oct 2021 00:00:00 +0530 Fri, 10 Dec 2021 08:36:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415630 The Tribunal allowed the appeal of the assessee, ruling in favor of the assessee on all grounds. The Assessing Officer's jurisdiction under section 148 was found to be flawed due to improper appreciation of facts and lack of requisite approval. The addition of unexplained investment under section 69 was dismissed as the amount had already been assessed in a prior year with no fresh payment made. Similarly, the addition of unexplained cash deposit under section 68 was deemed arbitrary and unjustified as there was no factual basis for the alleged cash deposit. Case-Laws Income Tax Wed, 27 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415630