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TMI Blog2020 (1) TMI 1396X X X X Extracts X X X X X X X X Extracts X X X X ..... ee. No compliance was made by the assessee until issuing of notices and reminders as referred in this order. Also brought to the notice of the assessee vide letter that 19-12-2013 that as per information summary pertaining to the TDS there was also transactions with the PAN of the assessee of interest other than the interest on securities. Even the assessee had failed to make compliances with notice u/s. 142(1) of the act issued by the assessing officer. AO had given due opportunity to the assessee but there was no compliance from the assessee. The case laws relying upon by the assessee are distinguishable on facts and are of no help to the assessee in the present case. No reason to interfere in the decision of ld. CIT(A) in justifyin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... D.R. For the Assessee : Shri P.F. Jain, A.R. ORDER PER : AMARJIT SINGH, ACCOUNTANT MEMBER:- This assessee s appeal for A.Y. 2010-11, arises from order of the CIT(A)-7, Ahmedabad dated 20-02-2017, in proceedings under section 143(3) r.w.s. 147 of the Income Tax Act, 1961; in short the Act . 2. The assessee has raised following grounds of appeal:- 1. The learned CIT(A) has erred in law and on facts in upholding reassessment proceeding u/s. 147 without appreciating the facts that the reasons recorded were not furnished depriving the appellant from filing objections to notice u/s. 148 rendering the assessment as bad in law and void ab initio. 2. She has erred in law and on facts in upholding order passed u/s. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 014 and 24th Nov, 2014. The assessee has filed return of income for the assessment year 2010-11 on 8th December, 2014 declaring taxable income of ₹ 1,09,626/-. During the course of assessment, the assessee reported that it was her first year of business of trading in iron and steel on retail basis. The assessing officer observed that assessee has shown purchase from only one dealer M/s. Harikrishna Steel Trader and details, address, phone no. etc. of the dealer was not furnished. Subsequently, the assessee has furnished copy of ledger account and the postal address of the dealer, however, on making inquiry the assessing officer noticed that no such dealer was existed at the given address and notice was also returned un-served. Thereaf ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... osited in the bank account 5. During the course of appellate proceedings before us, the ld. counsel has filed paper book containing details of submissions made before the lower authorities and also filed another paper book comprising of judicial pronouncements. The ld. counsel has contended that issuing of notice u/s. 148 by the assessing officer was bad in law and the ld. CIT(A) was erred in sustaining the addition without appreciating the facts and evidences furnished by the assessee. On the other hand, ld. departmental representative has vehemently contended that assessee has failed to substantiate the genuineness of unaccounted cash deposited in her saving bank account and supported the decision of the ld. CIT(A). 6. We have heard ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income within 30 days from the receipt of the notice. It is clear from the facts reported above that assessee has not filed any return of income u/s. 139(1) of the act. It is undisputed fact that huge cash deposit was found in the S.B. Account No. 093001502470 of the assessee maintained with the ICICI Bank. The assessing officer vide letter dated 19- 12-2013 had brought to the notice of the assessee that Income Tax Department has received information relating to financial activities of the assessee and provided information summary pertaining to the PAN of the assessee which also contain the information that during F.Y. 2008-09 there was a cash deposit of more than 10 lacs in the saving bank of the assessee. No compliance was made by the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. Harikrishna Trader but the said party was not existed at the given address. The assessee could not substantiate with relevant evidences that she was engaged in any business. Subsequently before the ld. CIT(A) the assessee had claimed that she had not signed the account opening form and the bank account was operated by her travel agent. The assessee has failed to furnish any communication from the bank stating that this account was not pertained to her. In this regard, we have verified the paper book submitted by the assessee and it is noticed that at page no. 29 to 31 the assessee has placed the copy of income tax return filed by the assessee for the year under consideration on 8th December, 2014 with the income tax return W-7(2)(1) and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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