TMI Blog2015 (2) TMI 577X X X X Extracts X X X X X X X X Extracts X X X X ..... es is given. The information only says that some bank instrument of `6 lakhs was got prepared. When the factual details are compared with the reasons recorded, we find that the reasons recorded are vague and factually incorrect also. No bank instrument of `6 lakhs was received by the assessee. No justification to interfere with the order of learned CIT(A) - Decided against revenue. Addition of ₹ 12 lakhs - CIT(A) deleted the addition - Held that:- Once the reopening of assessment itself has been held to be invalid, consequentially, the assessment order passed in pursuance to such notice under Section 148 would not survive. - Decided against revenue. - ITA No.2395/Del/2012 - - - Dated:- 22-8-2014 - SHRI G.D. AGRAWAL AND SHRI AB ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the information and further details so available, I have reason to believe that on account failure on the part of the assessee to disclose the particulars, I have reasons to believe that on account of failure on the part of the assessee to disclose the particulars of his income truly and correctly, an amount of ₹ 6,00,000/- chargeable to tax has escaped assessment for the A.Y. 2003-04. In view of above, proceedings u/s 147 of Income Tax Act, 1961 are hereby initiated against the assessee for the A.Y. 2003-04, by issuance of notice u/s 148 to bring to tax the above mentioned undisclosed income of ₹ 6,00,000/- plus the commission @ 10% of this entry amount (exact amount of commission subject to verification during the proce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Signature Hotels P.Ltd. Vs. ITO and Another - [2011] 338 ITR 51 (Delhi). 5. Learned DR, on the other hand, stated that at the time of issue of notice under Section 148, only a tentative or prima facie belief regarding the escapement of income is required. No conclusive finding with regard to escapement of income is required. In support of this contention, she relied upon the decision of Hon'ble Delhi High Court in the case of Aditya Khanna Vs. ACIT - [2012] 21 taxmann.com 102 (Delhi). She also stated that definite information was received from the Investigation Wing of the epartment with regard to a big racket of providing accommodation entries. From the details received from the Investigation Wing, it was gathered that the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 148, the Assessing Officer has recorded the following finding:- During the course of assessment proceedings, it was noticed that the assessee received gifts amounting to ₹ 2 lacs each from 6 persons namely Ms. Mala Khatri, Mrs. Renu Maini, Mr. Karan Sharma, Mr. Ishwar Sharma, Mr. Balvender Singh Mr. Rajan Jassal. The assessee filed various documents relating to the donors to justify the source, capacity to pay, identification and genuineness of the transactions. From the perusal of the bank accounts of the donors, it was noticed that there was a credit entry of 2 lacs each and on the same day i.e. 19.04.2002 in all the six cases and all the donors made gifts of ₹ 2 lacs each on the same day i.e. 19.04.2002 to the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his own satisfaction of escapement of income. Though he has mentioned in the reasons recorded that he has examined the information and details so available. Because had he examined the details and information, he would have certainly known that the information is factually incorrect and incomplete. In view of the above, in our opinion, the CIT(A) rightly followed the above decision of Hon'ble Jurisdictional High Court. Learned DR relied upon the decision of Hon'ble Delhi High Court in the case of Aditya Khanna (supra).However, the facts were quite different in the above case which would be evident from the following facts noted by Hon'ble Delhi High Court:- The record produced by the revenue shows that the assessee had given ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt Directorate in which he confirmed receipt of US$ 146247 by Indrus. He also stated that the money was received as 5 per cent profit for 30 lacs barrels of oil contracted with Masefield under the 'Oil for Food Programme'. The assessee clarified in the statement that he did not do any business with Indrus outside the 'Oil for Food Programme'. In addition to the statements made by the assessee and Andaleeb Sehgal before the Enforcement Directorate, the documents seized by the Enforcement Directorate from the premises of Andaleeb Sehgal and Hamdaan Exports were also before the Assessing Officer when he recorded the reasons. The seized documents included facsimile transmission of messages with respect to different business t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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