TMI Blog2017 (11) TMI 1221X X X X Extracts X X X X X X X X Extracts X X X X ..... arified by the ruling in Commissioner of Income Tax, Delhi vs. Kelvinator of India Ltd. (2010 (1) TMI 11 - SUPREME COURT OF INDIA ). The same logic in our opinion is applicable in the present case. Furthermore, the reference by the Revenue to the third paragraph of the “reasons to believe” in this case is of no consequence. The basic or necessary facts which led the AO to form the opinion are contained in the second paragraph of the impugned notice, i.e., the Investigation Wing’s report. The wording and rationale in the impugned notice is identical to that in the previous years’ case as well as for the AY 2010-11. The basic premise upon which the Revenue can issue a valid notice is if tangible material is unearthed after the completion ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nting to ₹ 3,65,74,000/- have been made by the assessee in his bank Current A/c. No.1135914, in the RBS/ABN AMRO Bank, N.V. Vatika, First India Place, Tower-B, Block-A, Sushant Lok, PH-1, M.G. Road, Gurgaon-122 022 during the F.Y. 2006-07. An amount of ₹ 32,24,67,563.80/- has also been deposited in Current A/c. No.1103472, RBS/ABN AMRO BANK, N.V. Vatika, First India Place, Tower-B, Block-A, Sushant Lok, PH-1, M.G. Road, Gurgaon-122 0 22 (In the name of M/s Nirvan Services, an entity owned by Sh. Dharamvir Singh Rao) during the F.Y.2006-07. During the course of enquiries conducted by the office of the DDIT (Inv.), Unit-IV (3), New Delhi in respect of above mentioned cash deposits withdrawals, the assessee had been confron ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich were decided on 18.10.2016) in the present assessment year, the proviso to Section 147 is inapplicable. For that, it is contended that the assessment was not completed after scrutiny, but was more of an acceptance of intimation of the return. It is next urged that so far as the question of approval is concerned, CIT (A) had clearly considered the reasons to believe that was put up to him and approved the notice. Lastly, it was urged that affixation is a known and accepted mode of service; counsel relied upon the decision cited as Commissioner of Income Tax v.Thayaballi Mulla Jeevaji Kapasi (1967) 66 ITR 147 (SC). At this stage, this Court notices that for the two assessment years 2008-09 and 2010-11, the judgment rendered on 18.10 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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