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2019 (5) TMI 275 - ITAT AMRITSARReopening of assessment u/s 147 - no relevant & fresh material - original assessment u/s 143(3) - failure on part of assessee to disclose necessary material fact for assessment - addition u/s 68 - cash deposit in bank account - admission of additional evidence by CIT(A) - HELD THAT:- In the instant case there was no relevant and sufficient material to make satisfaction for initiation the process of re-assessment u/s 147 hence, we do not find any infirmity, impropriety or illegality in the action of the CIT(A) in not sustaining the action u/s 147 by the Assessing Officer. Proper opportunities have been offered to the AO to file the remand report by verifying the documents and claim of the assessee, however, he did not make any effort to do so and ultimately the CIT(A) not only considered the normal practice of the assessee qua receiving of the advances from the customers as well as audited balance sheets of the preceding and succeeding assessment years but also considered the financial statements of the year under consideration reflected the advances from customers which were duly audited by the Chartered Accountant and opined that the appellant/assessee has fully explained the details of the deposits in the Bank Account and therefore, deleted the additions, which according our mind does not suffers from any perversity, illegality and impropriety. Hence, the action of the CIT(A) in non-sustaining of the action of the AO, on merit also does not require any inference and consequently stands affirmed. - Decided against revenue
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