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TMI Blog2021 (6) TMI 812X X X X Extracts X X X X X X X X Extracts X X X X ..... e that the assessee has used any of his assets for any business or rental purposes. The formation of belief by the AO in this case regarding the escapement of income of the assessee view is based on just assumptions and presumptions and there was no reliable material available with the AO to form the belief that the income of the assessee had escaped assessment. In this view, reopening of the assessment in this case, in my view is bad in law and the same is therefore quashed. Appeal of the assessee is allowed - ITA No. 49/CHD/2020 - - - Dated:- 16-6-2021 - Diva Singh, Member (J) For the Appellant : Parikshit Aggarwal, C.A. For the Respondents : Meenakshi Vohra, Addl. CIT ORDER The present appeal has been filed by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntical reasons have been extracted in the order in para 4 (internal page 4 of the order, Paper Book page 46). These very facts on identical reasons recorded, it was submitted, have been considered by the ITAT in para 5 (internal page 5 of the aforesaid order and Paper Book page 47). Accordingly, it was his submission that the issue is identical and the assessment order following this order, it was his prayer may be quashed. It was submitted that even on merits the facts are identical and the issue can be decided in favour of the assessee. 4. The ld. Sr. DR was heard. On a consideration of the reasons recorded in the year under consideration, which are available at Paper Book page 36, it was agreed that the very same reasons have been con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e rival submissions and perused the material available on record. The Assessing Officer (in short 'AO') recorded the following reasons for re-opening of the assessment: Reason for reopening the case u/s. 147/148 of the Income Tax Act, 1961 An information was received from the Deputy Director of Income-Tax (Investigation)-II, Chandigarh vide his office letter No. 3578 dated 02.03.2015 that above noted assessee had been evading rental income from House Property. On perusal of return of the said assessee company for A.Y. 2008-09 it is observed that fixed assets have been shown at ₹ 36,29,120/- but no income under any head has been shown except agriculture income of ₹ 1,26,000/-. Therefore, I have reason ..... X X X X Extracts X X X X X X X X Extracts X X X X
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