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2023 (11) TMI 86 - HC - Income TaxReopening of assessment u/s 147 - undisclosed bank deposits - as per AO petitioner had failed to provide any evidence to establish that the amounts found in the accounts maintained with HDFC Bank and DCB Bank in the FY 2014-15 did not belong to him, i.e., he was not the beneficiary - HELD THAT:- As noted while narrating the events, the petitioner had taken an emphatic stand that the bank accounts adverted to by the AO did not belong to him. Petitioner instead had furnished the statement of accounts of the two banks, i.e., ICICI Bank and Jammu and Kashmir Bank which were maintained by him. Thus, without any actionable material, the AO embarked on a journey to reopen, in a sense, a closed assessment which had reached culmination via order at least at the point in time when notice under Section 148A(b) of the Act was issued. What has compounded, in our view, at least for the moment, the problem of the respondents/revenue is the order passed by the CIT(A). Assessment order had, in fact, made no addition to the declared income of the petitioner. As noticed hereinabove, despite this position obtaining, a demand notice was served on the petitioner pursuant to the assessment order . It is perhaps because of this position that even though the CIT(A) had called for a response to the remand report, the AO failed to place before the CIT(A) his stance in the matter . Reopening order set aside - Decided in favour of assessee.
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