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TMI Blog2023 (3) TMI 1101X X X X Extracts X X X X X X X X Extracts X X X X ..... d to the facts and circumstances of the case, Ld. AO has erred in law and on facts since the reasons recorded for reopening of case U/s 148 indicate is that cash deposits aggregating to Rs 1,00,15,000/- have been made in the savings bank account of the assessee, but the mere fact that these deposits have been made in a bank account does not indicate that these deposits constitute an income which has escaped assessment. Therefore the reason of initiating the case proceedings U/s 147 is void-ab-initio reliance can be placed in the case of "Bir Bahadur Singh Sijwali vs Assessee" I.T.A. No.: 3814/Del/11 where the Hon'ble ITAT Delhi held that "we are of the considered view that the reasons recorded by the Assessing Officer (cash deposit), as set ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . CIT (A) nor the AO had invoked section 131/133. 4. That having regard to the facts and circumstances of the case, Ld. AO has erred in law and on facts that The A.O. has not tried to verify the truthness of the agreement dated 14- 08-2008. In which major payments (Rs.2,00,00,000/-) were received through banking channel. The verification can be done by A.O. by invoking section 131/133 by asking the proof of payments from bank or purchaser of agreement. But the A.O. decided to conclude the transaction "after thought devise". The transaction was entered on 14-08-2008 through bank entries and partly in cash and notice from department was received on 17- 02-2012. The bank transaction can route after receiving the notice from department. So t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... add, modify, amend or delete any of the grounds of appeal at the time of hearing and all the above grounds are without prejudice to each other." 3. Brief facts of the case are that the assessee filed return disclosing income of Rs.300/- (Agricultural income of Rs.1,50,000/- for rate purpose) in compliance to notice u/s 148 of the Income Tax Act, 1961. The case was selected for scrutiny to examine the capital gain tax liability and the assessment order came to be passed on 31.03.2009 by making an addition of Rs.3,00,00,000/- on account of undisclosed sources. 4. Aggrieved by the assessment order, the assessee preferred an appeal before the Ld. CIT(A) and the CIT(A) vide order dated 26.10.2017 dismissed the appeal filed by the assessee, wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an agreement to sale of agricultural land in Dunda Hera in Loni for sum of Rs.13,02,40,000/- and sum of Rs.3,00,00,000/- was taken as advance on the said agreement out of which Rs.1,00,00,000/- was accepted in cash and Rs.2,00,00,000/- was accepted by the bank draft deposited in the savings bank account. The assessee has also filed written reply on 11.02.2016 before the AO along with narration of credit entries in the bank account and copy of sale deed executed on 09.04.2009 for Rs.16,99,28,064/- and contended that the advance of Rs.3,00,00,000/- returned on 15.09.2008 after the agreement of sale dated 14.08.2008 was got cancelled. It is a case of the assessee that thereafter the mode of payment by purchaser given in the sale deed executed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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