https://www.taxtmi.com/caselaws?id=779552 ITAT held reassessment valid because the assessee did not respond to notice under section 148A(b), distinguishing an earlier co-ordinate bench decision where the assessee had furnished details showing the transaction fell below the Rs.50 lakh threshold. On addition under section 69 of Rs.7 lakhs (Rs.2 lakhs cheque, Rs.5 lakhs cash) relating to sale of gold and deposits, the Tribunal accepted the assessee's explanation-financing of the property purchase from bank loan, foreign remittances, a maternal gift and sale of old jewellery-and deleted the addition, noting absence of contrary material from revenue. en-us Tue, 23 Sep 2025 00:00:00 +0530 Wed, 08 Oct 2025 08:45:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779552 ITAT held reassessment valid because the assessee did not respond to notice under section 148A(b), distinguishing an earlier co-ordinate bench decision where the assessee had furnished details showing the transaction fell below the Rs.50 lakh threshold. On addition under section 69 of Rs.7 lakhs (Rs.2 lakhs cheque, Rs.5 lakhs cash) relating to sale of gold and deposits, the Tribunal accepted the assessee's explanation-financing of the property purchase from bank loan, foreign remittances, a maternal gift and sale of old jewellery-and deleted the addition, noting absence of contrary material from revenue. Case-Laws Income Tax Tue, 23 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779552