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2022 (9) TMI 86 - AT - Income TaxReopening of assessment u/s 147 - unexplained cash deposits - HELD THAT:- Assessee had filed return of income for the year under consideration by way of e-filing. AO recorded wrongly that no ITR was filed by the assessee. It is well-settled that reasons for re-opening of the assessment is the foundation of assumption of jurisdiction for re-opening of the assessment u/s 147 - It is also well-settled that any undisputed fact which goes to prove the reasons for re-opening of the assessment is incorrect, the re-opening of assessment fails the test of law hence, deserves to be quashed. In the present case, it is not disputed by the Revenue that the assessee had filed its return of income through e-mode under different PAN - AO has re-opened the assessment on the ground that the assessee did not file any return of income. It reflects non-application of mind and the assessment was re-opened without verifying the records. It is also not disputed that for the AY 2011-12 also, the assessee had re-opened the assessment and assessed the income of the assessee - the information before the Assessing Authority was regarding cash deposited by the assessee - Therefore, the re-opening of the assessment by the Assessing Authority and treating the entire cash deposits as the income of the assessee, is contrary to the records of the authority itself. Hence, we hereby quash the impugned assessment being illegal and unjustified and delete the addition. Thus, grounds raised by the assessee are allowed.
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