https://www.taxtmi.com/caselaws?id=780625 ITAT held the reassessment valid, finding prima facie material-undisclosed bank accounts and unexplained cash deposits during demonetisation-justified reopening within four years. The tribunal upheld CIT(A)'s view that the AO had sufficient reasons to infer escapement of income and that reassessment was confined to unexplained deposits; grounds challenging reopening were dismissed. The matter of taxability of the bank deposits was remanded to the AO for fresh adjudication, and the tribunal refrained from commenting on merits. en-us Thu, 30 Oct 2025 00:00:00 +0530 Sat, 01 Nov 2025 13:42:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780625 ITAT held the reassessment valid, finding prima facie material-undisclosed bank accounts and unexplained cash deposits during demonetisation-justified reopening within four years. The tribunal upheld CIT(A)'s view that the AO had sufficient reasons to infer escapement of income and that reassessment was confined to unexplained deposits; grounds challenging reopening were dismissed. The matter of taxability of the bank deposits was remanded to the AO for fresh adjudication, and the tribunal refrained from commenting on merits. Case-Laws Income Tax Thu, 30 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780625