https://www.taxtmi.com/caselaws?id=787407 Reopening of assessment was invalid because the reasons recorded for issuance of notice and the sanction were factually incorrect and mechanically granted without application of mind; the Tribunal applied the principle that reopenings founded on wrong or unexamined reasons and mechanical approvals are void, and directed invalidation of the reassessment. On merits the Tribunal found the alleged unexplained bank deposits could be reasonably accounted for by the assessee's uncontested agricultural activity and legitimate receipts, applying the peak credit scrutiny and concluding the addition based on peak credit was unsustainable and therefore deleted. en-us Tue, 24 Jun 2025 00:00:00 +0530 Thu, 05 Mar 2026 08:41:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787407 Reopening of assessment was invalid because the reasons recorded for issuance of notice and the sanction were factually incorrect and mechanically granted without application of mind; the Tribunal applied the principle that reopenings founded on wrong or unexamined reasons and mechanical approvals are void, and directed invalidation of the reassessment. On merits the Tribunal found the alleged unexplained bank deposits could be reasonably accounted for by the assessee's uncontested agricultural activity and legitimate receipts, applying the peak credit scrutiny and concluding the addition based on peak credit was unsustainable and therefore deleted. Case-Laws Income Tax Tue, 24 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787407