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2022 (10) TMI 299 - HC - Income TaxReopening of assessment u/s 147 - unexplained cash deposits - HELD THAT:- As till 21.12.2019, absolutely no submissions have been made on the merits of the matter and the petitioner has been only reiterating his request for documents. For the first time on 27.12.2019, even without filing a return of income pursuant to search conducted in his premises on 22.02.2019, 23.02.2019 and 24.02.2019, he puts forth an explanation for that substantial cash deposits that have been made in the savings bank account, stating that such deposits relate to transaction in connection with the property situated at Vellore Bus stand. Both the replies of the petitioner dated 24.10.2019 and 27.12.2019 are especially incriminating insofar as they refer to the involvement of heavy cash transactions in respect of the vellore property. Incidentally, a vague statement is made that the cash deposits were in the course of usual business transaction. In the absence of any return of income filed by the petitioner, such a statement cannot be countenanced or accepted. Thus, there is absolutely no infirmity in the impugned assessment order, neither in terms of the procedure followed by the authority nor in the conclusion that have been arrived at. WP dismissed.
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