Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (5) TMI 364 - ITAT DELHIReopening of assessment u/s 147 - Unexplained deposit of cash - explanation of the assessee was that the cash was deposited out of cash balance withdrawn from the account, however, no evidence was furnished - HELD THAT:- There is no dispute that the assessee had made cash deposits in the bank account. It is categorically recorded by the Assessing Officer that no income-tax return was filed by the assessee. Therefore, at the time of reopening there was no explanation regarding source of cash deposits by the assessee. In our considered view it was sufficient for the Assessing Officer to form a belief that the income chargeable to tax has escaped assessment. Hence, he was justified to reopen the assessment u/s 147 of the Act. After reopening of assessment, the Assessing Officer can in his wisdom proceed to make assessment regarding other issues as well. There is no prohibition under law that the Assessing Officer is required to confine assessment on the issue for which the assessment was reopened by him. Hence, ground nos. 1 and 2 of the assessee’s appeal are devoid of any merit and stand dismissed accordingly. Treatment of sum as net profit out of gross receipt - HELD THAT:- The assessee has not filed any evidence to controvert the finding of the Assessing Officer. Therefore we do not see any reason to interfere in the finding of the authorities below. Ground no. 2 of the assessee’s appeal is dismissed Addition without giving notice to the assessee - HELD THAT:- It is seen that the Assessing Officer had given a notice dated 22.12.2018. In response thereto no one attended the proceedings. Therefore, it cannot be inferred that the assessee was not given notice by the assessing Officer. Hence, ground no. 3 of the assessee’s appeal has no merit and is rejected accordingly.
|