https://www.taxtmi.com/caselaws?id=433083 The Tribunal ruled in favor of the appellant, finding that the reassessment jurisdiction under section 148 was invoked without proper enquiry and based on incorrect facts. The reasons for reopening the case lacked sufficient evidence linking cash deposits to undisclosed income. Emphasizing the need for a rational connection between material and belief, the Tribunal allowed the appeal, deeming the proceedings initiated without jurisdiction due to vague and insufficient reasons recorded for reassessment. en-us Wed, 18 Jan 2023 00:00:00 +0530 Thu, 19 Jan 2023 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433083 The Tribunal ruled in favor of the appellant, finding that the reassessment jurisdiction under section 148 was invoked without proper enquiry and based on incorrect facts. The reasons for reopening the case lacked sufficient evidence linking cash deposits to undisclosed income. Emphasizing the need for a rational connection between material and belief, the Tribunal allowed the appeal, deeming the proceedings initiated without jurisdiction due to vague and insufficient reasons recorded for reassessment. Case-Laws Income Tax Wed, 18 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433083