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

By Yogitha S. Yogesh - On June 23, 2022 11:34 am

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…

Sh. Avtar Singh vs Income Tax Officer

Counsel for Appellant:   Sh. J. S. Bhasin

Counsel for Respondent:   Sh. Manpreet Singh Duggal

CITATION:   2022 TAXSCAN (ITAT) 837