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2016 (8) TMI 1472 - AT - Income TaxReopening of assessment - proof of escapement of income - cash deposited in bank account - HELD THAT:- There is nothing more than cash deposit of R.12,76,000/- in the bank account to justify the reopening of assessment by holding the belief that income has escaped assessment. A mere cash deposit in the bank account, however, cannot justify such a belief or inference. In this view of the matter, and respectfully following the division bench order in the case of Bir Bahadur Singh Sijwali [2015 (2) TMI 60 - ITAT DELHI] hold that the very initiation of reassessment proceedings, on the facts of this case, were unsustainable in law. Therefore, quash the reassessment proceedings and the impugned reassessment order. As the reassessment itself stands quashed, all other issue raised in the appeal are rendered infructuous and do not call for any adjudication. - Decided in favour of assessee.
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