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TMI Blog2018 (9) TMI 804X X X X Extracts X X X X X X X X Extracts X X X X ..... turn of income and declared total income of Rs. 9.83 lacs (rounded off). Such return was accepted by the Assessing Officer under section 143(1) of the Income Tax Act, 1961 ['the Act' for short] without scrutiny. To re-open such assessment, he recorded following reasons and issued impugned notice: "It is noticed that the assessee has deposited Rs. 17,86,000/- post demonetization. Further on verification of return of income for the A.Y. 2015-16 assessee had shown income of Rs. 9,86,230/- only and further on verification of return of income it does not justify cash deposit of Rs. 17,86,000/- in a short period i.e. post demonetization and hence the assessee had regular source of income which is undisclosed to the department. Therefore ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ount No. 03260100000133 of Bank of Baroda was not indicated therein due to oversight. If such additional amount is taken into account, the total withdrawals would be far in excess of the assessment of the assessee during the said period. Even without the aid of this missing entry, the assessee's withdrawals and deposits matched. 5. On the other hand, learned counsel Ms. Bhatt for the department opposed the petition contending that no scrutiny assessment was carried out in case of the assessee. The Assessing Officer has recorded proper reasons. At this stage, the Court would not examine the sufficiency of such reasons. The reasons being valid, reopening of assessment should be permitted. 6. We may recall, in the reasons recorded by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of Rs. 17.86 lacs by her during the period between 09.11.2016 and 30.12.2016. She was asked to give her response by submitting on-line reply. She gave such details in prescribed format in two separate reports. In first such report, she showed the cash withdrawn from the bank account of Rs. 1,39,460/- and the cash deposited in the account between 09.11.2016 to 30.12.2016 of Rs. 2 lacs. She gave precise details of six different withdrawals which totaled to the said sum of Rs. 1,39,460/-. In second such report, she showed a total cash withdrawal of Rs. 15,85,160/- and gave details of as many as 20 withdrawals from a bank account which totaled to the said sum of Rs. 15,85,160/-. She showed her cash deposits during the crucial period at Rs. 15 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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