Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (8) TMI 237 - ITAT AHMEDABADReassessment proceedings initiated u/s 147/148 - validity of reasons to believe - Addition u/s 68 - unexplained deposits in cash - HELD THAT:- Reasons would indicate that the Assessing Officer has reopened the assessment on the ground that the assessee had made deposits in cash. This cash deposit, in the opinion of the AO, was escaped income from the assessment. We have perused the assessment order also, but we do not find any such addition made by the Assessing Officer. Entries in the bank account were made through account payee cheques. Assessing Officer has not made the addition which was allegedly deposited in cash; rather the Assessing Officer has made some other additions. See MOHMED JUNED DADANI [2013 (2) TMI 292 - GUJARAT HIGH COURT, JET AIRWAYS (I) LTD. [2010 (4) TMI 431 - HIGH COURT OF BOMBAY] and RANBAXY LABORATORIES LIMITED [2011 (6) TMI 4 - DELHI HIGH COURT] Since no addition was made on an issue for which the assessment was reopened, therefore, any other addition is not sustainable. We allow this ground of appeal of assessee.
|