TMI Blog2016 (10) TMI 777X X X X Extracts X X X X X X X X Extracts X X X X ..... such cash received by him in savings and current accounts and would issue cheques to the creditors. When the scrutiny assessment took into account all such facts, it would be simply not permissible for the department to reopen the issue in the guise that certain cash deposits were unexplained. - Notice issued u/s 148 quashed - Decided in favor of assessee. - SPECIAL CIVIL APPLICATION NO. 9412 of 2016 - - - Dated:- 18-10-2016 - MR. AKIL KURESHI AND MR. A.J. SHASTRI, JJ. FOR THE PETITIONER : MR RK PATEL, ADVOCATE with MR DARSHAN R. PATEL FOR THE RESPONDENT : MR KM PARIKH, ADVOCATE ORAL JUDGMENT (PER : HONOURABLE MR.JUSTICE AKIL KURESHI) 1. The petitioner has challenged a notice dated 30.03.2016 issued by the r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Income Tax Act, 1961. Therefore, it is a fit case to issue notice u/s. 148 of the Act for A.Y. 200910. 3. Counsel for the petitioner drew our attention to the documents on record and contended that the sole issue pressed in service by the Assessing Officer is of cash deposit of ₹ 1.97 crores (rounded off) in the bank account of the assessee during the financial year 2008-09 relevant to assessment year 2009-10. Such issue was however examined by the Assessing Officer during the original assessment proceedings by calling for details of bank statements. Only thereupon, the order of assessment was passed, making no additions in the returned income. There is no material outside the assessment, on the basis of which, the impugned n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urnished and details called for. The assessee is doing the trading of Gutakha and other provisional items. His business is of cash and current bank accounts and paid cheques to the creditors of the goods. On verification of the AIR entries, it is noticed that the total transactions made were shown double time i.e. all the entries of deposit and withdrawal sides were taken in AIR information. The bank statements are verified. The case is discussed. After discussion, the return income as accepted. Income assessed as per return of income ₹ 2,47,090/- 8. It can thus be seen that the bank accounts maintained by the petitioner were before the Assessing Officer during the assessment. The assessee on the request of the Asse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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