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2019 (1) TMI 1893 - ITAT AMRITSARReopening of assessment u/s 147 - Jurisdiction of AO to issue notice - HELD THAT:- In the present case, it is an admitted fact that the ITO-1(5), Ludhiana issued the notice u/s 148 r.w.s. 147 of the Act, thereafter, the jurisdiction was transferred to the ITO-1(5), Jalandhar who never issued the notice u/s 148 of the Act but framed the assessment u/s 143(3) - As relying on JAWAHAR LAL AGARWAL VERSUS ITO-4 (2) , AGRA [2018 (3) TMI 936 - ITAT AGRA] he assessment framed by the AO who had not issued notice u/s 148 r.w.s. 147 of the Act is quashed. Addition u/s 69 of the Act on account of non declaration of cash and other deposits in bank account. Reasons to believe - AO while issuing the notice u/s 148 of the Act has mentioned that the assessee had deposited a cash of ₹ 1,39,28,640/- during the financial year 2009-10 in the bank account which had escaped assessment. On the contrary, in the assessment order, he mentioned that the cash deposited in the bank account of the assessee was ₹ 51,24,064/-, which is evident from para 8.3 off the assessment order dated 14.12.2017. Therefore, the reasons recorded by the AO were not emerging from the record available with him. AO recorded the reasons which were not found to exists on the record, therefore, the reassessment framed deserves to be quashed. In view of the aforesaid discussion, we are of the confirmed view that viewed from any angle, the reassessment framed by the AO was not justified, hence quashed. - Decided in favour of assessee.
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