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2022 (10) TMI 36 - HC - Income TaxValidity of Reopening of assessment u/s 147 - order passed u/s 148A - as contented primary condition u/s 149 to issue a notice is not satisfied, as the AO was not in possession of books of account or other documents to find out the income chargeable to tax, escaped the assessment amounts or that the amount is likely to cross Rs.50,00,000/-. - whether the Order passed under Clause (d) of Section 148A warrants interference? - HELD THAT:- It may be true that, the Petitioner would be having number of opportunities to explain his stand in the proceedings to be initiated under Section 148 of the Act, i.e., after filing of the assessment, but the argument of the learned Counsel for the Petitioner that the Petitioner could not be put to such a ordeal, at this stage, more so, when the Order came to be passed without verifying the records, cannot also be brushed aside. The issue is fortified by the fact that, in respect of information furnished under CIB, the Petitioner was able to explain the deposits made in the assessment year 2015-16, which tallied with the figures mentioned in the notice. The Order under challenge is set-aside and the matter is remanded back to the first Respondent with a direction that a fresh notice be given, disclosing the details of the second bank account if any with Andhra Bank or in any branch of Andhra Bank, where cash deposits are made within a period of one week or 10 days from the date of receipt of the Order, fixing a time limit for reply and, thereafter, proceed further in accordance with law. It is needless to mention that an opportunity of hearing be given, if requested.
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