https://www.taxtmi.com/caselaws?id=434061 The Tribunal held that the Assessing Officer did not have a valid belief of income escapement when reopening the case under section 147 of the Income Tax Act, as the actual cash deposits were below the taxable limit. The assessment order was deemed invalid and set aside, with the appeal allowed on legal grounds. The Tribunal did not address the case's merits, ruling in favor of the assessee due to the lack of a valid jurisdiction for reopening the assessment. en-us Fri, 10 Feb 2023 00:00:00 +0530 Thu, 16 Feb 2023 08:49:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434061 The Tribunal held that the Assessing Officer did not have a valid belief of income escapement when reopening the case under section 147 of the Income Tax Act, as the actual cash deposits were below the taxable limit. The assessment order was deemed invalid and set aside, with the appeal allowed on legal grounds. The Tribunal did not address the case's merits, ruling in favor of the assessee due to the lack of a valid jurisdiction for reopening the assessment. Case-Laws Income Tax Fri, 10 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434061