https://www.taxtmi.com/caselaws?id=756516 ITAT Raipur rejected the assessee's challenge to a notice issued under section 148 without DIN, noting that despite Delhi HC's favorable ruling in Brandix case, SC has granted interim stay maintaining status quo. The tribunal held that since the assessee participated in assessment proceedings without objecting to notice service, section 292BB precluded raising such objections later. Regarding cash deposits claimed from agricultural land sale, ITAT upheld addition as assessee failed to substantiate source, relying on registered deed over unregistered agreement. Penalty under section 271(1)(c) was sustained as assessee couldn't prove bonafide nature of deposits. en-us Thu, 25 Jul 2024 00:00:00 +0530 Mon, 05 Aug 2024 07:05:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756516 ITAT Raipur rejected the assessee's challenge to a notice issued under section 148 without DIN, noting that despite Delhi HC's favorable ruling in Brandix case, SC has granted interim stay maintaining status quo. The tribunal held that since the assessee participated in assessment proceedings without objecting to notice service, section 292BB precluded raising such objections later. Regarding cash deposits claimed from agricultural land sale, ITAT upheld addition as assessee failed to substantiate source, relying on registered deed over unregistered agreement. Penalty under section 271(1)(c) was sustained as assessee couldn't prove bonafide nature of deposits. Case-Laws Income Tax Thu, 25 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756516