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2019 (3) TMI 1712 - AT - Income TaxReopening of assessment - addition u/s 68 - HELD THAT:- A perusal of the notice issued under section 148 shows that the notice has been issued in a very casual manner - Similarly, a perusal of the bank account maintained with Vijaya Bank account no. 004427 shows that an amount of ₹ 2,50,000/- was by way of clearing of Cheque No. 719443 and not cash deposit. If the same is excluded from the total deposits made during the year from the two bank accounts then there is no such cash deposit of ₹ 4,97,452/- in the two bank accounts maintained by the assessee. Therefore, find force in the argument of assessee that the reasons recorded are either vague reasons or not based on any application of mind. In any case, the assessee has explained the source of each deposit made both in cash as well as in cheque and therefore, even on merit also no addition is called for. Therefore, set aside the order of the learned CIT(A) and direct the AO to delete the addition - Decided in favour of assessee
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