ITAT Restores Validity of Section 148 Notice and Cash Deposit Additions to CIT(A)

Dilipkumar Laxminarayan Lohiya Vs Assessment Unit (ITAT Pune) Income Tax Appellate Tribunal (ITAT), Pune bench, has remitted the case of Dilipkumar Laxminarayan Lohiya back to the Commissioner of Income Tax (Appeals) [CIT(A)] for fresh examination, including a critical legal challenge regarding the validity of the reassessment proceedings based on the monetary threshold for issuing notices beyond the standard time limit. The case involves the assessment year 2015-16, for which the assessee, an individual, had originally filed a return declaring a total income of Rs. 2,76,870. Subsequently, inf...