https://www.taxtmi.com/caselaws?id=774041 Where no return of income had been filed and cash deposits were found in the bank account, reassessment jurisdiction under section 147 read with section 148 of the Income-tax Act, 1961 was upheld and the jurisdictional challenge failed. The Tribunal also found that additional evidence explaining the source of cash required examination by the Assessing Officer, so the matter was restored for fresh adjudication after due opportunity to the assessee. The decision therefore confirms that reassessment may proceed in the absence of a return, while merits-based verification may still justify remand when new material needs consideration. en-us Mon, 26 May 2025 00:00:00 +0530 Wed, 02 Jul 2025 08:42:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774041 Where no return of income had been filed and cash deposits were found in the bank account, reassessment jurisdiction under section 147 read with section 148 of the Income-tax Act, 1961 was upheld and the jurisdictional challenge failed. The Tribunal also found that additional evidence explaining the source of cash required examination by the Assessing Officer, so the matter was restored for fresh adjudication after due opportunity to the assessee. The decision therefore confirms that reassessment may proceed in the absence of a return, while merits-based verification may still justify remand when new material needs consideration. Case-Laws Income Tax Mon, 26 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774041