Reassessment Revived Due to Cash Deposits, But With ₹25,000 Cost

Sandeep Vimalchand Gadiya Vs ITO (ITAT Bangalore) Non-Compliance Cured with Cost: ₹25,000 Cost Imposed as ITAT Revives Reassessment on Cash Deposits One More Chance, but at a Price – Email Missed, Justice Remains: Bangalore ITAT Orders De-Novo Assessment Bangalore ITAT “B” Bench, in Sandeep Vimalchand Gadiya Vs ITO (ITA No. 2404/Bang/2024, AY 2012-13; order dated 31.01.2025), set aside the reassessment order passed u/s 147 r.w.s. 144 & restored the matter to the file of AO for de-novo adjudication, subject to payment of cost of ₹25,000. Reassessment was initiated on account o...