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2016 (5) TMI 406 - ITAT DELHIReopening of assessment - reasons to believe - Held that:- We find from the facts of the assessee that not only the notice was containing wrong address but the reasons recorded clearly showed that no satisfaction of having income escaped assessment, was recorded by the AO and the proceedings were initiated only for carrying out enquiries in respect of credits in the bank accounts. We agree with the finding of the ld. Commissioner of Income-tax(Appeals) that the information which was received from another Income-Tax Officer was only to be verified at the end of the AO, and the bank statement obtained from bank could not be the basis of reopening of the assessment. It is not discernible from the reasons recorded whether any income escaped the assessment. The order of the Ld. Commissioner of Incometax( Appeals) on the issue in dispute is well reasoned and no further interference is required from our side. Accordingly, we uphold the finding of the learned Commissioner of Income-tax(Appeals) in annulling the assessment passed by the AO being not in accordance to law. The ground of the appeal is, thus dismissed. - Decided against revenue.
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