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2021 (3) TMI 1103 - ITAT BANGALOREReopening of assessment u/s 147 - Notice to be served within the limitation period or specified period - addition u/s 68 - HELD THAT:- The notice u/s. 148 of the I.T. Act was dispatched on 31.03.2018 in the address given by the assessee in the PAN portal. Since the notice was returned unserved, the same was served through affixture. The learned Standing Counsel has produced the assessment records to prove that the notice u/s. 148 of the I.T. Act was dispatched on 31.03.2018 itself. In this context, the judicial pronouncement relied on by the CIT(A) clearly states that it is not necessary that notice needs to be served within the limitation period, but only need to be dispatched within the specified period. Therefore, the technical grounds raised by the assessee are dismissed. Addition u/s 68 - Assessee was not given any benefit of telescoping with regard to the withdrawals made by him. The assessee has also contended that he is deriving income from screen printing activities and the same were deposited in Kotak Mahindra Bank. It was stated by the assessee that the notice u/s. 142(1) was served on the assessee in the fag end of limitation period for completion of assessment, hence, was not in a position to furnish the necessary proof/evidences. Admittedly, in this case, the assessment has been completed on a best judgment basis. Therefore, assessee should be provided with one more opportunity to explain the source of cash deposit. The assessee shall produce the necessary evidences/documents to prove the source of cash deposits. The assessee shall co-operate with the department and shall not seek unnecessary adjournment. The A.O. is directed to afford a reasonable opportunity of hearing to the assessee and pass an order in accordance with law. It is ordered accordingly. Appeal filed by the assessee is allowed.
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