Reopening of Assessment u/s 147 Invalid Due to Lack of Justification for Unexplained Cash Deposits.

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....Validity of reopening of assessment u/s 147 - Unexplained cash deposit in the bank account - Apparently, the explanation given by the assessee has been rejected without assigning any reason. To our mind, if the assessee's explanation of having the opening cash in hand was to be disbelieved, there should have been cogent reasoning behind the same. - the lower authorities had no justifiable reason to make the addition - AT....