https://www.taxtmi.com/caselaws?id=773580 The HC set aside the best judgment assessment order under section 144 and remanded the matter for de novo assessment after finding the AO failed to provide adequate opportunity to the assessee who was hospitalized due to stroke during assessment proceedings. The court quashed additions under section 69A for unexplained cash deposits of Rs. 14,31,000/- and 8% estimation of business income totaling Rs. 23,36,160/-, directing fresh consideration with proper hearing. Penalties under sections 271B and 271AAC(1) were also set aside, with directions to initiate penalty proceedings afresh only after completing the reassessment while ensuring compliance with natural justice principles. en-us Mon, 26 May 2025 00:00:00 +0530 Wed, 25 Jun 2025 09:23:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773580 The HC set aside the best judgment assessment order under section 144 and remanded the matter for de novo assessment after finding the AO failed to provide adequate opportunity to the assessee who was hospitalized due to stroke during assessment proceedings. The court quashed additions under section 69A for unexplained cash deposits of Rs. 14,31,000/- and 8% estimation of business income totaling Rs. 23,36,160/-, directing fresh consideration with proper hearing. Penalties under sections 271B and 271AAC(1) were also set aside, with directions to initiate penalty proceedings afresh only after completing the reassessment while ensuring compliance with natural justice principles. Case-Laws Income Tax Mon, 26 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773580