9911796707
TMI Blog2023 (6) TMI 728X X X X Extracts X X X X X X X X Extracts X X X X ..... he AO through AIR information that the assessee had deposited cash of Rs. 11.21 lakhs in the Bank of Baroda, Vadam Branch. Accordingly the assesses case was reopened for assessment and necessary notices issued. None attended the hearing nor filed written submissions. The AO accordingly framed assessment u/s 144 of the Act on the basis of material before making an addition of Rs. 18,91,000/- to the income of the assessee on account of unexplained cash deposits. The assessee challenged the assessment order before the ld.CIT(A), where he filed additional evidences which were considered by the Ld.CIT(A) in accordance with the procedure prescribed in law, i.e after seeking remand report from the AO. Thereafter the Ld.CIT(A) upheld the action of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... case of the assessee merely on suspicion that the assessee has deposited the cash from the unexplained sources, however, there is no formation of belief. To this proposition, the ld.AR replied on the decision of the ITAT, Delhi Benches in the case of Bir Bahadur Singh Sijwali v. I.T.O. [2015] 53 taxmann.com 366 (ITAT-Delhi). He thus prayed that the assessment order passed by the AO under section 147 and upheld by the ld.CIT(A) is bad in law and liable to the quashed. 6. On the other hand, the ld.DR supported orders of the Revenue authorities. 7. I have heard both the parties; perused the orders of the Revenue authorities below and also the case cited by the ld.AR at bar. I find merit in the contention of the ld.counsel for the assessee th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e reasons recorded for reopening indicate is that cash deposits aggregating to Rs 10,24,100 have been made in the 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. The reasons recorded for reopening the assessment do not make out a case that the assessee was engaged in some business and the income from such a business has not been returned by the assessee. As we do not have the liberty to examine these reasons on the basis of any other material or fact, other than the facts set out in the reasons so recorded, it is not open to us to deal with the question as to whether the assessee could be said to be e ..... X X X X Extracts X X X X X X X X Extracts X X X X
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