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TMI Blog2014 (5) TMI 374X X X X Extracts X X X X X X X X Extracts X X X X ..... account then the order of the CIT would be right and all the transactions in the bank account which were not reflected in the books of account would have to be treated as undisclosed income - the AO while looking into the issue as to where the credits have come from and where the debits have gone, shall also look into the issue as to whether these credits and debits have been reflected in the books of account of the assessee which were produced before him – the matter is remitted back to the AO for adjudication - Decided in favour of Assessee. - W. P.(C) No.444 of 2010 - - - Dated:- 25-2-2014 - MR. DEEPAK GUPTA AND S. TALAPATRA, JJ JUDGMENT By means of this writ petition the petitioner has laid challenge to the revisional order ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ne was mentioned. In view of the above facts, the AO s order is erroneous and prejudicial to the interest of revenue and is accordingly set aside u/s 263 of the IT Act, 1961. 05. Mr. Saha, learned counsel for the assessee contends, and rightly so, that this notice was totally illegal since the Commissioner of Income Tax had actually set aside the order of the Assessing Officer even before giving notice to the assessee. 06. There is no manner of doubt that this communication is not at all legal and valid. Though in the opening portion, it is mentioned that it is a proposal for revising the order under Section 263 of the IT Act, in the second quoted portion, it is clearly mentioned that the order of the A.O. was erroneous and preju ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rth his case. Here that reasonable opportunity has already been given to the assessee and, therefore, in the peculiar facts and circumstances of the case, though the notice was not properly worded, we are unable to accept the contention of Shri Saha that the consequent order under Section 263 of the IT Act should be set aside. 09. The second contention of Mr. Saha, learned counsel is that no doubt the assessee had not disclosed the bank account number and the amount of Rs.15,365/- in his return but all the transactions which form part of the credits and debits which took place in the bank account in question are reflected in the books of account of the assessee. He submits that the Assessing Officer had gone through the entire books of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hey have been accounted in the books of account and if so or otherwise to decide on the taxability of the undisclosed bank account as per law and rules. 10. We in writ jurisdiction cannot come to a final conclusion as to whether it is the assessee who is right or whether it is the version of the Commissioner of Income Tax which is correct. It will be for the Assessing Officer to decide whether the amounts which have been credited and debited in Bank Account No.30044789261 of SBI are reflected in the books of account or not. If they are reflected in the books of account then the only non-disclosure is about the final amount of Rs.15,365/- lying in the bank account in the return. But in case these transactions of the bank account are not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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