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2023 (2) TMI 528 - ITAT DELHIReopening of assessment u/s 147 - whether no notice was served upon the assessee? - Treating the bank deposits as the business receipts of the assessee - HELD THAT:- Undisputedly the authorized representative of the assessee attended the proceedings before the assessing authority. As recorded by the AO that the learned authorized representative had sought adjournment and no objection was raised regarding non-service of the notice, the fact that authorized representative of the assessee attended the proceedings. As pointed out by the Revenue that vakalatnama was duly executed in favour of the said authorized representative of the assessee. Therefore, it cannot be inferred that no notice was served upon the assessee. Revenue has also placed on record the dispatch register of the notice. Therefore, there is no infirmity into the action of the AO in reopening of the assessment. Grounds 2 & 3 according stand rejected. Deposits in bank acoount - CIT(Appeals) has failed to advert to the objection of the assessee. On the other hand before the authorities below the assessee has categorically stated that amount was out of the funds received from mother and father. The bank statement of father is placed on record which suggest cash withdrawal of Rs. 25,00,000/- and the amount of Rs. 82,00,000/- was deposited in the bank account of the assessee. Therefore, considering the evidences placed, the authorities below failed to appreciate the evidences in right perspective and treated the deposit as business receipts, which is contrary to the records. Therefore,we hereby delete the impugned addition. This ground of the assessee’s appeal is allowed.
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