https://www.taxtmi.com/caselaws?id=416154 Reassessment under section 147 was challenged on the ground that notice under section 148 had not been effectively served and that the assessee was denied a reasonable opportunity to explain the source of margin money. The appellate authority had already deleted part of the addition and sustained the balance, but the matter was found fit for reconsideration because the assessee's grievance on lack of effective service and opportunity required fresh examination. The issue was restored to the Assessing Officer for one more opportunity and a fresh decision in accordance with law. en-us Fri, 24 Sep 2021 00:00:00 +0530 Wed, 22 Dec 2021 07:50:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416154 Reassessment under section 147 was challenged on the ground that notice under section 148 had not been effectively served and that the assessee was denied a reasonable opportunity to explain the source of margin money. The appellate authority had already deleted part of the addition and sustained the balance, but the matter was found fit for reconsideration because the assessee's grievance on lack of effective service and opportunity required fresh examination. The issue was restored to the Assessing Officer for one more opportunity and a fresh decision in accordance with law. Case-Laws Income Tax Fri, 24 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416154