https://www.taxtmi.com/caselaws?id=427301 The Tribunal allowed the appeal, ruling in favor of the assessee and deleting the addition of unexplained cash deposits. It found the assessment under sections 148 and 144 to be invalid due to incorrect notices and misstatements. The Tribunal criticized the arbitrary application of section 69A and the lack of proper verification in adding unexplained cash deposits under section 68. The decision emphasized the importance of due diligence and providing the assessee with a fair hearing, ultimately concluding in favor of the appellant on 31st August 2022. en-us Wed, 31 Aug 2022 00:00:00 +0530 Tue, 06 Sep 2022 07:11:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427301 The Tribunal allowed the appeal, ruling in favor of the assessee and deleting the addition of unexplained cash deposits. It found the assessment under sections 148 and 144 to be invalid due to incorrect notices and misstatements. The Tribunal criticized the arbitrary application of section 69A and the lack of proper verification in adding unexplained cash deposits under section 68. The decision emphasized the importance of due diligence and providing the assessee with a fair hearing, ultimately concluding in favor of the appellant on 31st August 2022. Case-Laws Income Tax Wed, 31 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427301