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2019 (7) TMI 377 - ITAT JAIPURUnexplained cash deposit in his bank account - Reopening of assessment u/s 147 - HELD THAT:- In light of the settled legal proposition of law as laid down by the various Courts including the decision of Hon’ble Bombay High Court in case of CIT vs. Jet Airways . [2010 (4) TMI 431 - HIGH COURT OF BOMBAY] wherein it was held that in terms of Section 147 of the Act, the Assessing Officer has to assess or reassess the income which has escaped assessment and which was the basis for the formation to belief and it he does so he can also assessed or reassess any other income which has escaped assessment which come to his notice during the course of assessment proceedings. Issuing notice U/s 148 of the Act, he accepted the contention of the assessee and holds that the income which he has initially formed a reason to believe had escaped assessment, has as a matter of fact not escaped assessment, it is not open to him to independently assess some other income and if he intends to do so, a fresh notice U/s 148 would be necessary, we are of the considered view that the addition made by the Assessing Officer towards unexplained cash deposit in the assessee’s bank account cannot be sustained as the very reasons for reopening the assessment has not been made the subject matter of assessment in the hands of the assessee. - Decided in favour of assessee.
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