https://www.taxtmi.com/caselaws?id=757371 Miscellaneous proceedings cannot reopen concluded additions for unexplained cash deposits unless a patent mistake is apparent from the record. Where identity, creditworthiness and genuineness of alleged creditors remained unproved, the additions were not disturbed and the assessees' applications failed. A subsequent binding jurisdictional precedent holding that interest under section 234B is chargeable on assessed income displaced the basis for deleting interest under sections 234A and 234B. The departmental applications succeeded on the interest issue, producing an overall mixed outcome favouring Revenue. en-us Mon, 12 Aug 2024 00:00:00 +0530 Thu, 22 Aug 2024 11:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757371 Miscellaneous proceedings cannot reopen concluded additions for unexplained cash deposits unless a patent mistake is apparent from the record. Where identity, creditworthiness and genuineness of alleged creditors remained unproved, the additions were not disturbed and the assessees' applications failed. A subsequent binding jurisdictional precedent holding that interest under section 234B is chargeable on assessed income displaced the basis for deleting interest under sections 234A and 234B. The departmental applications succeeded on the interest issue, producing an overall mixed outcome favouring Revenue. Case-Laws Income Tax Mon, 12 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757371