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2017 (6) TMI 138 - AT - Income TaxReopening of assessment - audit objection relied upon - unexplained cash deposits - Held that:- From the very reason recorded by the AO for reopening of assessment, it is clear that the same is on the basis of audit objection and no independent opinion has been formed by the AO while recording reasons. From the audit objection, it is clear that the AO during the course of assessment proceedings has particularly enquired about cash deposit and assessee explained that this cash deposit in bank account is out of the business of sale of scrap on which account the income has been included in the return of income for AY 2009-10. Even the AO in his comments to assessee’s objection to reasons has clearly admitted that the entire information was before him but he could not go into details in view of time barring assessment and workload. - Decided in favour of assessee.
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