{
  "id": 13036279,
  "title": "Rs 2 cr deposit, no ITR, Rs 2.51 cr addition; ITAT quashes case due to 5 day delay",
  "url": "https://urgent.news/2026/10/09/rs-2-cr-deposit-no-itr-rs-2-51-cr-addition-itat-quashes-case-due-to-5",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-09T04:33:29.000Z",
  "source": {
    "name": "Times of India",
    "slug": "times-of-india",
    "url": "https://timesofindia.indiatimes.com/business/india-business/man-had-rs-2-crore-bank-deposit-and-didnt-file-itr-faced-rs-2-51-crore-tax-addition-itat-chennai-quashes-reassessment-after-income-tax-department-missed-6-year-deadline-by-5-days/articleshow/134799653.cms"
  },
  "original_language": "en",
  "account": "The Income Tax Appellate Tribunal in Chennai has dismissed a reassessment case involving Rs 2.51 crore in additional income. The key reason was that the tax department had issued the reopening notice beyond the statutory time limit. The case concerned an assessment year of 2015-16, and the law governing reassessment notices was changed on April 1, 2021. The taxpayer had not filed an income tax return for that year and had failed to respond to notices seeking an explanation for the unexplained deposit of Rs 2 crore. The reassessment proceedings were time barred as the six-year limitation period under the old provisions had expired by March 31, 2022.",
  "summary": "The Income Tax Appellate Tribunal (ITAT), Chennai, has quashed a reassessment involving Rs 2.51 crore additionals after holding that the Income Tax Department had issued the reopening notice after the statutory time limit had already expired.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}