9911796707
TMI Blog2022 (4) TMI 640X X X X Extracts X X X X X X X X Extracts X X X X ..... rwarded to the respondent no.1 alongwith the report, it cannot be said to be either the books of account or document seized so as to fall it within the ambit of clause (b) of sub-section (1) of Section 153C of the Act, 1961. Perusal of the reason recorded by the assessing authority as aforequoted reveals that the assessing authority has proceeded on the basis of certain information received from the Investigating Wing and after independent verification, he came to the conclusion that the assessee had made huge cash of ₹ 1,18,84,000/-, which caused him to issue notice to the petitioner under Section 148 of the Act, 1961. It is also admitted case of the petitioner that no assessment was made by the assessing authority for the Assessment Year 2016-17. As per Explanation 2(b) appended to Section 147 of the Act, 1961, if a return of income has been furnished by the assessee but no assessment has been made and it is noticed by the assessing officer that the assessee has understated the income or has claimed excessive loss, deduction, allowance or relief in the return; then it shall be deemed to be a case where income chargeable to tax has escaped assessment. We find that neit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he entire proceeding under Section 148 is without jurisdiction. 4. Learned counsel for the respondents have supported the impugned notice and the order. 5. We have carefully considered the submissions of learned counsels for the parties and perused the records of the writ petition. 6. Reason supplied by the assessing authority to the petitioner for initiating proceedings under Section 147/148 of the Act, 1961, is reproduced below:- It was informed by DDIT (Inv.)-1(3), Ghaziabad vide letter dated 26.03.2021 dated during the enquiry proceedings, it was found that that assessee has made cash amount of ₹ 1,18,84,000/- for purchase of units/shops/space etc. in Red Mall, Ghaziabad to M/s Celebration City Projects Pvt Ltd. during the F.Y. 2015-16. On perusal of the record it is seen that the assessee has filed ITR for A.Y. 2016-17 on 28.07.2016 declaring income of ₹ 7,32,670/-. As per record the case has not been assessed u/s 143(3) of the Income Tax Act, 1961. I have perused the record in light of the above information and through independent verification of return of the assessee with the perusal of the statement recorded on oath c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee has not disclosed fully and truly all material facts for the year under consideration and the said cash deposits of ₹ 22,85,000/- is the income of the assessee that has escaped assessment within the meaning of sec. 147 of the Income Tax Act, 1961. Accordingly, the assessment was re-opened by issue of notice u/s.148 of the I.T. Act dated 30/3/2021, after taking required approval from the competent authority in the Department as per the provisions of section 151 of the Income Tax Act, 1961. ........ 5.2.2. The arguments of the assessee are unfounded. In the reasons recorded by the A.O, the A.O has clearly specified that he has analysed the information with the return of income filed by the assessee for the relevant period and found that the source of cash deposits was not disclosed in the return of income filed . In view of the above facts, the A.O had reason to believe that the assessee has not disclosed fully and truly all material facts for the year under consideration and the said cash payment of ₹ 1,18,84,000/- made by the assessee is the income of the assessee that has escaped assessment within the meaning of sec. 147 of the Income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the books of account or documents or assets seized or requisitioned have a bearing on the determination of the total income of such other person for six assessment years immediately preceding the assessment year relevant to the previous year in which search is conducted or requisition is made and for the relevant assessment year or years referred to in sub-section (1) of section 153A: Provided that in case of such other person, the reference to the date of initiation of the search under section 132 or making of requisition under section 132A in the second proviso to subsection (1) of section 153A shall be construed as reference to the date of receiving the books of account or documents or assets seized or requisitioned by the Assessing Officer having jurisdiction over such other person : Provided further that the Central Government may by rules made by it and published in the Official Gazette, specify the class or classes of cases in respect of such other person, in which the Assessing Officer shall not be required to issue notice for assessing or reassessing the total income for six assessment years immediately preceding the assessment year relevant to the pre ..... 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