https://www.taxtmi.com/caselaws?id=766711 Gujarat HC allowed the petition challenging reopening of assessment. The court found that the AO had no valid reasons to initiate proceedings under Section 148A, as there were no unexplained cash deposits in petitioner's bank accounts and no information of escaped income. The petitioner's explanation and supporting documents demonstrated excess expenditure over income with no taxable income, making filing of return unnecessary. The reopening proceedings were deemed invalid and the petition was allowed. en-us Mon, 10 Feb 2025 00:00:00 +0530 Mon, 03 Mar 2025 08:22:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766711 Gujarat HC allowed the petition challenging reopening of assessment. The court found that the AO had no valid reasons to initiate proceedings under Section 148A, as there were no unexplained cash deposits in petitioner's bank accounts and no information of escaped income. The petitioner's explanation and supporting documents demonstrated excess expenditure over income with no taxable income, making filing of return unnecessary. The reopening proceedings were deemed invalid and the petition was allowed. Case-Laws Income Tax Mon, 10 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766711