https://www.taxtmi.com/caselaws?id=775665 Reopening of assessment under the Income-tax Act was held unsustainable where the same bank deposits had already been assessed in the hands of another person for the same assessment year. On that factual basis, the department could not treat the identical deposits as the assessee's unexplained income, and the resulting addition could not be sustained. The reassessment was therefore quashed because the foundational material did not justify taxing the deposits again in the assessee's hands. en-us Tue, 03 Jun 2025 00:00:00 +0530 Tue, 29 Jul 2025 08:30:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775665 Reopening of assessment under the Income-tax Act was held unsustainable where the same bank deposits had already been assessed in the hands of another person for the same assessment year. On that factual basis, the department could not treat the identical deposits as the assessee's unexplained income, and the resulting addition could not be sustained. The reassessment was therefore quashed because the foundational material did not justify taxing the deposits again in the assessee's hands. Case-Laws Income Tax Tue, 03 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775665