https://www.taxtmi.com/caselaws?id=761571 The ITAT Pune held that a reassessment order was invalid where the AO failed to make additions for cash deposits, which formed the primary basis for reopening under section 148. The AO had recorded reasons believing cash deposits escaped assessment but made no additions on this ground, instead adding other items under sections 69 and 69A. Following precedents including Jet Airways and SV Jadhav, the tribunal ruled that when the primary reason for reassessment fails, the AO lacks jurisdiction to tax other income not mentioned in the section 148 notice. The reassessment was quashed and the assessee's appeal was allowed. en-us Tue, 01 Oct 2024 00:00:00 +0530 Tue, 12 Nov 2024 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761571 The ITAT Pune held that a reassessment order was invalid where the AO failed to make additions for cash deposits, which formed the primary basis for reopening under section 148. The AO had recorded reasons believing cash deposits escaped assessment but made no additions on this ground, instead adding other items under sections 69 and 69A. Following precedents including Jet Airways and SV Jadhav, the tribunal ruled that when the primary reason for reassessment fails, the AO lacks jurisdiction to tax other income not mentioned in the section 148 notice. The reassessment was quashed and the assessee's appeal was allowed. Case-Laws Income Tax Tue, 01 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761571