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2019 (6) TMI 245 - AT - Income TaxReopening of assessment u/s 147 - wrong facts in reasons recorded - validity of reasons to believe - Addition u/s 68 - HELD THAT:- A perusal of the quoted reasons show that there is a reference of query letter dated 11.01.2012 and 25.01.2012. There is also a reference that no reply has been received from the assessee till date. Thereafter, the AO observed that since cash was found to be deposited in the savings bank account. He had reasons to believe that the source of the above cash deposits is income from undisclosed sources and, accordingly, reassessment proceedings were initiated. In our considered view, the aforementioned reasons are devoid of any application of mind since the AO completely ignored the fact that the return for the year under consideration was already filed on 18.01.2010. AO further ignored the fact that vide letter dated 24.02.2012 the assessee has explained that he is a regular assessee and produced the copy of Income-tax return filed in the office of ITO, Ward 39(2). These facts can be gathered from the body of the assessment order itself in the first para on page 1 of the assessment order. See SUNRISE EDUCATION TRUST VERSUS INCOME TAX OFFICER (EXEMPTION) [2018 (2) TMI 1471 - GUJARAT HIGH COURT] , SH. ASHWANI KUMAR, VERSUS INCOME TAX OFFICER, [2016 (2) TMI 1159 - ITAT AMRITSAR (SMC).] and BIR BAHADUR SINGH SIJWALI VERSUS INCOME TAX OFFICER WARD 1, HALDWANI [2015 (2) TMI 60 - ITAT DELHI] Assumption of jurisdiction by the AO by issuing notice u/s 148 of the Act is bad in law. We, accordingly, quash the notice issued u/s 148, thereby, quashing the assessment order. - Decided in favour of assessee.
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