https://www.taxtmi.com/caselaws?id=770354 Validity of an income-tax demand notice issued under assessment procedures was challenged on the basis that the assessing officer's additions were computed on erroneous figures; the appellate order had recognised an exemption for the relevant receipts and found the source of bank deposits to be market fees received from a state supplies corporation, leading to deletion of additions. Consequently, the tax demand, accompanying computation sheets and the notice of demand were set aside and the assessing authority directed to undertake a fresh computation of tax liability consistent with the appellate findings and the corrected data. en-us Wed, 30 Apr 2025 00:00:00 +0530 Fri, 09 May 2025 09:12:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770354 Validity of an income-tax demand notice issued under assessment procedures was challenged on the basis that the assessing officer's additions were computed on erroneous figures; the appellate order had recognised an exemption for the relevant receipts and found the source of bank deposits to be market fees received from a state supplies corporation, leading to deletion of additions. Consequently, the tax demand, accompanying computation sheets and the notice of demand were set aside and the assessing authority directed to undertake a fresh computation of tax liability consistent with the appellate findings and the corrected data. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770354