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TMI Blog2022 (3) TMI 24X X X X Extracts X X X X X X X X Extracts X X X X ..... ot filed the return of income. In this case, information was obtained by the AO that the assessee has deposited cash of Rs. 27 lakhs in Oriental Bank of Commerce, Meerut. He, therefore, after recording the reasons, reopened the case u/s. 147 of the Act and issued notice u/s. 148 of the Act. During the course of assessment, the AO asked the assessee to explain the source of deposit of cash of Rs. 27 lakhs in the said bank account. After considering the various submissions made by the assessee, the AO accepted an amount of Rs. 16,46,338/- as explained and made an addition of Rs. 10,53,662/- to the total income of the assessee. 4. Before the CIT(A), the assessee challenged the validity of the reassessment proceedings as well as the addition o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the IT Act, 1961. The AO has obtained the KYC form and copy of the Bank Statement on 18.01.2017 which he has considered before the issuance of Notice u/s. 148 after taking statutory Approval on 09.03.2017. Thus, the Ld. AR's contention that the AO had no material before him is a totally misplaced argument. The facts on record clearly prove that AO travelled beyond mere information and gathered material before issuance of Notice u/s. 148 and the material was sufficient for belief formation u/s. 147 of the IT Act, 1961. Thus there truly existed 'reason to believe' before issue of notice u/s. 148 of the IT Act, 1961. Accordingly this ground of Appeal is hereby dismissed." 4.1. Similarly, he also dismissed the ground challen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at proper opportunity of hearing was not allowed hence assessment proceedings are against the principle of natural justice hence deserve to be quashed. 5. That assessment has been made u/s. 148/143(3) whereas the assessment order has been made ex-parte hence assessment order was to be framed u/s. 144. Hence assessment order is Null & void. 6. That assessee craves the leave to add, delete, modify or amend any of ground or grounds of appeal before the hearing or at the time of hearing." 6. The assessee has also raised an additional ground. However, since the Ld. Counsel for the assessee did not press the additional ground, I am not deciding the same and the additional ground is dismissed as 'not pressed.' Similarly, the Ld. Couns ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he CIT(A) is not justified. He, however, submitted that he has no objection if the matter is restored to the file of the AO for adjudication of the issue afresh in the light of the orders passed for the preceding and subsequent years. 8. The Ld. DR, on the other hand, while supporting the orders of the AO and the CIT(A) submitted that he has no objection if the matter is restored to the file of the AO for adjudication of the issue afresh. 9. I have heard the rival arguments made by both the sides, perused the orders of the AO and the CIT(A) and the paper book filed on behalf of the assessee. I have also considered the various decisions cited before me. I find, the AO, in the instant case, reopened the case of the assessee u/s. 147 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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