https://www.taxtmi.com/caselaws?id=466434 The ITAT held that a belated income tax return cannot be treated as invalid where statutory interest applies for late filing, because treating it as invalid would nullify the interest provision; consequently framing assessment without issuing the jurisdictional notice was erroneous and the assessment under summary procedure was set aside. Separately, the tribunal found no basis for partially accepting a taxpayer's cash book for the demonetization period while rejecting other entries without reasons; having accepted earlier entries, the appellate authority could not sustain additions for unexplained bank deposits and those enhancements were disallowed. en-us Fri, 29 Nov 2024 00:00:00 +0530 Sun, 08 Feb 2026 17:12:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466434 The ITAT held that a belated income tax return cannot be treated as invalid where statutory interest applies for late filing, because treating it as invalid would nullify the interest provision; consequently framing assessment without issuing the jurisdictional notice was erroneous and the assessment under summary procedure was set aside. Separately, the tribunal found no basis for partially accepting a taxpayer's cash book for the demonetization period while rejecting other entries without reasons; having accepted earlier entries, the appellate authority could not sustain additions for unexplained bank deposits and those enhancements were disallowed. Case-Laws Income Tax Fri, 29 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466434