TMI Blog2018 (9) TMI 804X X X X Extracts X X X X X X X X Extracts X X X X ..... posits were from the sources not indicated by the assessee, nothing of the sort has come in the form of reasons recorded. The reasons recorded completely ignored the Assessing Officer's query and the response made by the assessee to such queries. Assessing Officer in the reasons recorded has simply kept aside the assessee's explanation for the availability of cash on hand for deposit post demonetization. The reasons thus clearly lacked validity and proceeded on erroneous premise. Impugned notice is therefore quashed. Petition is allowed in favour of assessee - R/SPECIAL CIVIL APPLICATION NO. 7628 of 2018 - - - Dated:- 10-9-2018 - MR AKIL KURESHI AND MR B.N. KARIA, JJ. For The Petitioner : MR B S SOPARKAR(6851) For The Responden ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ning under communication dated 09.03.2018. Such objections were rejected by the Assessing Officer by an order dated 09.04.2018. 4. Learned counsel for the petitioner submitted that the reasons recorded by the Assessing Officer lacked validity. There was no basis to even prima facie believe that income chargeable to tax in case of the assessee had escaped assessment. Merely because the assessee deposited some cash amounts post demonetization of currency would not ipso facto mean escapement of income chargeable to tax. Even if cash deposits were made, there was no indication that the same related to the income, needed to be assessed for the assessment year in question. The reasons are thus invalid, vague and unsustainable. Counsel submitte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Upon further verification of the return, he was of the opinion that the same does not justify cash deposit of ₹ 17.86 lacs in a short period post demonetization. He was therefore of the opinion that the assessee had regular source of income which was not disclosed to the department. 7. In the present case, the challenge to the notice of reopening is in case of a return which was accepted without scrutiny. Under such circumstances, as is well settled, the concept of change of opinion would not apply since no scrutiny assessment having taken place. The Assessing Officer cannot be stated to have formed an opinion. Nevertheless, as held by this Court in case of Gujarat Power Corporation Ltd vs. Assistant Commissioner of Income Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the correct document which is taken on record. 9. The case of the petitioner thus all along has been that the entire amount, which was deposited by the petitioner in the bank account post demonetization, was withdrawn from her accounts which was disclosed to the department. This is what she had stated in their objections to the notice of reopening. In the present petition also, the contentions of the petitioner has been that the entire amount was withdrawn since January 2016 and came to be deposited post demonetization. 10. Reason recorded by the Assessing Officer must be seen in light of such facts. We are not for a moment judging sufficiency of the reasons enabling the Assessing Officer to form a belief that income chargeable to t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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