9911796707
TMI Blog2001 (11) TMI 13X X X X Extracts X X X X X X X X Extracts X X X X ..... hese appeals arise out of different assessment years and were disposed of by a common order by the Income-tax Appellate Tribunal, Indore. The present appeal is filed under section 260A of the Income-tax Act, 1961, which arise out of order dated April 12, 2001, by the Income-tax Appellate Tribunal, Indore, in I.T.A. Nos. 216, 217 and 218/Ind of 1996. They relate to the assessment years 1987-88, 1988-89 and 1991-92. It appears that on September 13, 1990, a search operation was carried out in the premises of the assesses resulting in seizure of several incriminating documents. This led to issuance of notices to the assessee under section 148 of the Act by the Assessing Officer in relation to the aforementioned assessment years for re opening ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 148 of the Income-tax Act for reopening of the cases for the years in question and that in the absence of any reasoning not being communicated to the assessee as to why the cases are being reopened vitiates the notice, has no substance. As rightly concluded by the Income-tax Appellate Tribunal, the very act of conducting a raid operation in the premises of the assessee which resulted in seizure of several incriminating documents, itself is more than sufficient material to issue notices under sections 147 and 148 for reopening of the cases already decided. It was a fact well within the knowledge of the appellant (assessee) and hence it cannot be successfully urged by the appellant that there was no material for initiating action under secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9A of the Income-tax Act, which specifically deal with cases of cash credit and unexplained money in clear terms provide that it is for the assessee to offer an explanation to prove the entry and source to the satisfaction of an assessing authority. Sections 68 and 69A ibid do not define as to what type of evidence, the assessee is required to file and, hence, it depends upon the facts of each case as to what type of evidence, documentary or/and oral, the assessee tenders before the Assessing Officer so as to satisfy the Assessing Officer to accept the genuineness of a particular cash credit entry and source of money. However, the assessee is always free to bring any material piece of evidence which will convince the Assessing Officer that ..... X X X X Extracts X X X X X X X X Extracts X X X X
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