ITAT quashes Reassessment Order on Cash Deposits due to AO’s Vague Reasoning and Non-Application of Mind [Read Order]

Considering that the AO’s reasons for reopening the assessment were vague and non-application of mind, ITAT quashes the order

By Kavi Priya - On September 25, 2024 3:54 pm - 2 mins read

ITAT - ITAT Delhi - Income Tax Appellate Authority - ITAT Quashes - Reassessment Order - Non-Application of Mind - assessing officer's vague reasoning - Cash Deposits - Reassessment Order on Cash Deposits - TAXSCAN

The Delhi Bench of Income Tax Appellate Authority ( ITAT ) quashed the reassessment order on cash deposits due to the assessing officer’s vague reasoning and non-application of mind for reopening the matter. Raghubir Singh Punia, the assessee had deposited a sum of Rs. 29,49,000 in his bank account during the financial year 2011-12. The…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?

Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)

₹1599 + GST for 1 year

Subscribe Now

Topics