https://www.taxtmi.com/caselaws?id=762403 The court dismissed the petition, affirming the jurisdiction of the Jurisdictional Assessing Officer to issue a notice under Section 148A of the Income Tax Act, 1961. The court found that the petitioner failed to provide satisfactory responses or explanations for the substantial cash deposits and unexplained cash amounts in their bank accounts. The court held that the purpose of the notice was to allow the Assessee to respond to indications of income escaping assessment, and at this preliminary stage, the Assessing Officer is not required to make a final determination. The petitioner's rights to contest the assessment remain intact, but there were no grounds for interference under Article 226. en-us Wed, 20 Nov 2024 00:00:00 +0530 Sat, 30 Nov 2024 08:41:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762403 The court dismissed the petition, affirming the jurisdiction of the Jurisdictional Assessing Officer to issue a notice under Section 148A of the Income Tax Act, 1961. The court found that the petitioner failed to provide satisfactory responses or explanations for the substantial cash deposits and unexplained cash amounts in their bank accounts. The court held that the purpose of the notice was to allow the Assessee to respond to indications of income escaping assessment, and at this preliminary stage, the Assessing Officer is not required to make a final determination. The petitioner's rights to contest the assessment remain intact, but there were no grounds for interference under Article 226. Case-Laws Income Tax Wed, 20 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762403