https://www.taxtmi.com/caselaws?id=448679 ITAT Rajkot upheld the reopening of assessment beyond 4 years as the assessee was a non-filer with taxable income, falling under Section 147 Explanation 2(a). The PCIT's sanction under Section 151 was valid. The tribunal confirmed the long-term capital gains addition due to insufficient evidence for claimed land development expenses of Rs. 3,48,000. However, the unexplained cash deposit addition was deleted as the assessee provided genuine explanation linking bank deposits to registered property sales to different parties on the same date, with sale proceeds deposited subsequently. en-us Wed, 24 Jan 2024 00:00:00 +0530 Sat, 27 Jan 2024 08:31:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448679 ITAT Rajkot upheld the reopening of assessment beyond 4 years as the assessee was a non-filer with taxable income, falling under Section 147 Explanation 2(a). The PCIT's sanction under Section 151 was valid. The tribunal confirmed the long-term capital gains addition due to insufficient evidence for claimed land development expenses of Rs. 3,48,000. However, the unexplained cash deposit addition was deleted as the assessee provided genuine explanation linking bank deposits to registered property sales to different parties on the same date, with sale proceeds deposited subsequently. Case-Laws Income Tax Wed, 24 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448679