https://www.taxtmi.com/caselaws?id=427248 The court upheld the validity of the notice under Section 148 and the order u/s 148A(d) for reassessment of Income for A.Y. 2018-19, as well as the sanction issued under Section 151 of the Income Tax Act. The decision was based on the lack of credible evidence regarding the unsecured loan, providing the Assessing Authority with grounds to proceed with the re-assessment. The petitioner was permitted to participate in the re-assessment proceedings, with any court observations not deemed adverse to the petitioner during this process. en-us Thu, 07 Jul 2022 00:00:00 +0530 Sat, 03 Sep 2022 14:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427248 The court upheld the validity of the notice under Section 148 and the order u/s 148A(d) for reassessment of Income for A.Y. 2018-19, as well as the sanction issued under Section 151 of the Income Tax Act. The decision was based on the lack of credible evidence regarding the unsecured loan, providing the Assessing Authority with grounds to proceed with the re-assessment. The petitioner was permitted to participate in the re-assessment proceedings, with any court observations not deemed adverse to the petitioner during this process. Case-Laws Income Tax Thu, 07 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427248