Re-assessment - the information was restricted to cash deposits ...

Re-assessment notice quashed due to lack of credible evidence; proceedings based on mere suspicion and conjecture.

March 14, 2017

Case Laws Income Tax AT

Re-assessment - the information was restricted to cash deposits in bank account but there was no material much less tangible, credible, cogent and relevant material to form a reason to believe that cash deposits represented income of the assessee; that the proceedings initiated are based on surmises, conjectures and suspicion - Notice quashed - AT

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Re-assessment - the information was restricted to cash deposits ...

Re-assessment notice quashed due to lack of credible evidence; proceedings based on mere suspicion and conjecture.

March 14, 2017

Case Laws Income Tax AT

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