https://www.taxtmi.com/caselaws?id=773102 ITAT Ahmedabad upheld reassessment proceedings validity, finding AO had recorded specific reasons and reopening was based on new facts rather than change of opinion, making reassessment after four years permissible. However, ITAT allowed grounds challenging CIT(A)'s order for violating natural justice principles, as CIT(A) confirmed additions summarily without considering detailed submissions or providing reasoned findings. The tribunal found CIT(A) failed to examine evidence regarding professional receipts, commission income, cash expenditure for forex transactions, and cash deposits, despite assessee's explanations and supporting documents. Matter remanded to AO for fresh adjudication with proper verification of evidence and hearing opportunity. en-us Tue, 10 Jun 2025 00:00:00 +0530 Wed, 18 Jun 2025 09:04:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773102 ITAT Ahmedabad upheld reassessment proceedings validity, finding AO had recorded specific reasons and reopening was based on new facts rather than change of opinion, making reassessment after four years permissible. However, ITAT allowed grounds challenging CIT(A)'s order for violating natural justice principles, as CIT(A) confirmed additions summarily without considering detailed submissions or providing reasoned findings. The tribunal found CIT(A) failed to examine evidence regarding professional receipts, commission income, cash expenditure for forex transactions, and cash deposits, despite assessee's explanations and supporting documents. Matter remanded to AO for fresh adjudication with proper verification of evidence and hearing opportunity. Case-Laws Income Tax Tue, 10 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773102