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TMI Blog2025 (1) TMI 165X X X X Extracts X X X X X X X X Extracts X X X X ..... account. Thus the assessee disclosed the transaction reflected in the bank account. CIT(A) deleted the addition as unexplained credit deposit in the bank account which was the prime facie basis for reopening of assessment. When the basic reasons recorded for reassessment itself is deleted, there cannot be any further addition in the reopened assessment, and such additions cannot sustainable in law. Since the foundation of reassessment proceedings is a valid notice, if this notice is held to be invalid, the entire edifice sought to be raised on such foundation has to collapse and therefore the entire reassessment proceedings liable to be quashed. As relying on B.P. PODDAR FOUNDATION FOR EDUCATION [ 2022 (9) TMI 660 - CALCUTTA HIGH COURT] and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sst. Year 2011-12, assessee filed its original Return of Income on 07-07-2012 declaring total income of Rs. 17,54,560/-. As per information available with the Department, the assessee has received credit entry amounting to Rs. 4,05,553/- of his minor child and not clubbed the same income in his Return of Income thus escaped assessment. Hence the assessment was reopened by issuing a notice u/s. 148 of the Act on 30-03-2018. 4. In response, the assessee filed a return on 16-07-2018 declaring total income of Rs. 17,54,538/-. During the reassessment proceedings, the assessee explained the credit entries to the tune of Rs. 4,05,553/- is from rental income of the assessee from SBI Life Insurance Co. and Savings shown his Return of Income. However ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a ledger account to explain the said deposits. The AO has not brought out any reason that why the explanation of the appellant was not acceptable. There is no mention of 'CEMTEX DEPOSIT in the bank account. This narration, as per internet, is used for bulk deposits by banks. In view of the above Lam not convinced that the AO had sufficient evidence before him to make the addition of Rs. 4,05,553/- as unexplained credit deposits in the bank account. Therefore, I direct him to delete the aforesaid addition. Ground of appeal 3.1 and 3.2 are allowed. 5.1. However the Ld. CIT(A) deleted the unexplained income as Rs. 6,50,000/- and partly allowed the assessee appeal. 6. Aggrieved against the same, assessee is in appeal before us raising the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) vs. B.P. Poddar Foundation For Education reported in [2023] 148 taxman. com 125 (Calcutta), Co-ordinate Bench decision in the case of Joginder Singh Vs. ITO reported in (2016) 65 taxmann.com 323 (Amritsar Trib.) and Clarion Power Corporation Ltd. Vs. ACIT in ITA No. 1336/HYD/2018 dated 06-05-2021. 8. Per contra, Ld. Sr. D.R. Shri Ramesh Kumar appearing for the Revenue supported the order passed by the Lower Authorities and requested to confirm the same. 9. We have given our thoughtful consideration and perused the materials available on record. As it can be seen from the assessment order, the reasons for reopening of assessment namely credit entries amounting to Rs. 4,05,553/- of assessee s minor child was not clubbed the same in assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was to be taxed separately at maximum marginal rate in terms of proviso to section 164(2) Assessing Officer proceeded to pass a reassessment order making additions on account of said amount to income of assessee by invoking section 13(1)(b) read with section 11(5)- Assessing Officer also held that assessee was not carrying out its activities as per objects of trust, accordingly, amount said to have received as donation was added back to Income of assessee under section 69A Assessee contended that issue regarding addition under section 69A was not raised by Assessing Officer in reopening notice- Whether since additions on account of amount deposited by assessee with specified person in contravention to section 13(1)(c)(ii) and 13(1)(d) was d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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