https://www.taxtmi.com/caselaws?id=422104 The Tribunal upheld the validity of reopening the assessment under section 147 due to unexplained cash deposits, dismissing the challenge against it. The addition of Rs. 3,00,000 as net profit was sustained as the assessee failed to provide evidence countering it. The Tribunal also rejected the argument that additions were made without proper notice, citing an issued notice that went unanswered. Consequently, the appeal was dismissed on 26th April, 2022. en-us Tue, 26 Apr 2022 00:00:00 +0530 Sat, 07 May 2022 18:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422104 The Tribunal upheld the validity of reopening the assessment under section 147 due to unexplained cash deposits, dismissing the challenge against it. The addition of Rs. 3,00,000 as net profit was sustained as the assessee failed to provide evidence countering it. The Tribunal also rejected the argument that additions were made without proper notice, citing an issued notice that went unanswered. Consequently, the appeal was dismissed on 26th April, 2022. Case-Laws Income Tax Tue, 26 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422104