Reassessment Collapses Without 143(2) Notice: ITAT Pune Sends Cash Deposit Case Back to CIT(A)

Bababhai Sadarbhai Shaikh Vs ITO (ITAT Pune) Reassessment Collapses Without 143(2) Notice – ITAT Pune Sends Cash Deposit Case Back to CIT(A) Assessee, a trader in onions & food-grains, had not filed return for AY 2015-16. Based on information from Shri Renuka Mata Multi-State Urban Co-op Credit Society Ltd. about large cash deposits of ₹ 81.03 lakh, AO reopened the case u/s 147 r.w.s. 144B, treating the deposits as unexplained u/s 69A &  assessed total income at ₹ 81.03 lakh. Before CIT(A)/NFAC, Assessee contended that (i) no notice u/s 143(2) was issued, (ii) only 2 days were a...