Evidence for Verification of Cash Deposit would invalidate Reopening of Assessment u/s 147: ITAT [Read Order]

Evidence - cash deposit - assessment - ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT), Amritsar bench has held that reopening of assessment u/s 147 of Income Tax Act 1961 would invalidate in the presence of evidence for verification of cash deposit. The Assessing Officer reopened assessment u/s 147 of the Income Tax Act, 1961 on the basis that the assessee had deposited cash…

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