Reopening of Assessment for Cash Deposits During Demonetization – Notice Quashed for Lack of Tangible Material
Reopening of Assessment for Cash Deposits During Demonetization – Notice Quashed for Lack of Tangible Material Summary in Key Points: Issue: Whether the Assessing Officer (AO) was justified in reopening the assessment under Section 147 of the Income-tax Act, 1961, based on information about cash deposits made during demonetization, when the assessee had provided an… Read More »