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TMI Blog2016 (3) TMI 1388X X X X Extracts X X X X X X X X Extracts X X X X ..... formation received from the Investigation Wing notice u/s 148 has been issued. According to us the aforesaid reasons do not satisfy the requirement of section 147 as information referred to is very vague and without reference to any documents or statement. Even the Annexure which has been reproduced is not mentioned in the reasons, even otherwise this annexure cannot be considered as a material or evidence with prima facie shows or establishes a nexus which shows escapement of income. Further it is apparent that the AO did not apply his own mind to the information and examined either the builder or the broker on the alleged cash payment but accepted the information in a mechanical manner. Reopening is improper and illegal and therefore cann ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ziabad in addition to payment of ₹ 2565,000/- through cheque. Therefore, notice u/s 148 was issued on 10.01.2013. On 17.01.2013 assessee submitted that original return filed on 31st July 2008 may be treated as return filed in response to notice u/s 148 of the Act. On 04.02.2014, assessee was provided with copy of reasons recorded and on 15.02.2013 the assessee submitted objections against the reopening of assessment. On 12.04.2013 AO rejected the objections filed by the assessee by passing a speaking order and proceeded to make an assessment. On merits the assessee submitted that it has not made any payment other than by cheque payment for purchase of Unit No.UG-10B to AEZ group for AEZ, Vaishali project. For this the assessee submitt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nted cash for the Vaishali project in addition to payment made through cheques. It was also recorded in reasons that Investigation Wing have informed to AO that the assessee is one such investors who has made a payment of ₹ 25,65,000/through cheque and ₹ 33,85,800/- in cash on 31st May 2007 for investment in Unit No.UG-lOB. On the basis of above information AO has reason to believe that the assessee has made undisclosed income of ₹ 3385000/- therefore he submitted that assessment has been reopening merely on the report from the Investigation wing of the revenue. It was further submitted that AO has not examined any evidence after e information received from Investigation Wing and reopen the assessment. He submitted that su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that AO has not applied his mind. He further relied on the Para No.4 of the order of Id CIT(A) on merits of the addition. 7. We have carefully considered the rival contentions and also the paper book filed by the assessee containing 36 pages. The reasons recorded by the AO are at Page 2 wherein on 10.01.2013, the AO has recorded reasons as under:- In this case, the information was received from Asstt. Director of Income Tax (Inv.) Unit-111(3), New Delhi. As per this information during the search seizure operation on 1 7. 08.201 1 in the case ofAEZ Group (Part of Aerens Croup) and thereafter during searches conducted on various investors of this group they found that the investors have made unaccounted cash for AEZ Vaishaii project ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... from the Investigation Wing, New Delhi. There is no mention of this Annexure or reference to any material found during the course of search or any statement recorded of the seller or the broker in reasons recorded by AO for reopening of assessment It is also not mentioned that on which date the alleged cash have been paid by the assessee and to whom. It is also not available that from whose possession this information was found and what he had to say on these details. Ld. AO ^according to material available before us shows that based on the information received from the Investigation Wing notice u/s 148 has been issued. According to us the aforesaid reasons do not satisfy the requirement of section 147 of the Act as information referred to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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