TMI Blog2019 (4) TMI 1787X X X X Extracts X X X X X X X X Extracts X X X X ..... he given case which can be reflected in the briefest possible manner. In the present case, the exercise appears to have been ritualistic and formal rather than meaningful, which is the rationale for the safeguard of an approval by a higher ranking officer. For these reasons, the Court is satisfied that the findings by the ITAT cannot be distributed. Quash the impugned reassessment order and allow the grounds of appeal of the assessee. - ITA No. 6451/Del/2018 - - - Dated:- 16-4-2019 - Sh. N. S. Saini, Accountant Member For the Appellant : Sh. Rakesh Gupta, Adv. Sh. Dipesh Garg, Adv. For the Respondent : Sh. S. L. Anuragi, Sr. DR ORDER This is an appeal filed by the assessee against the o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action of the Ld. A.O. in making an addition of ₹ 23,00,000/- as income from undisclosed sources on account of deposits into the bank account, more so without appreciating the material on record without observing principles of natural justice. 6) That in any case and in any view of the matter, action of Ld. CIT(A) in confirming the addition of ₹ 23,00,000/- is bad in law and against the facts and circumstances of case and without considering the material placed on record and by recording incorrect facts and findings. 7) That having regard to the facts and circumstances of the case, Ld. CI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ose fully and truly all material facts necessary for computing correct income and filling his return of income for that assessment year. Accordingly, notice u/s 148 of Income Tax Act, 1961 is being issued. 5. Further, the approval of the competent authority who granted the approval by noting as approved . 6. The contention of Authorized Representative of the assessee is that a perusal of the recorded reasons shows that the reopening of the assessment was made by the Assessing Officer on the ground that he received AIR/CIB information that assessee deposited cash of ₹ 52,00,000/- in her savings bank account during the financial year relevant to assessment year 2010-11. He argued that the Delhi Bench of the Tribuna ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the expression approved says noting. It is not as if the CIT has to record elaborate reasons for agreeing with the noting put up. At the same time, satisfaction has to be recorded of the given case which can be reflected in the briefest possible manner. In the present case, the exercise appears to have been ritualistic and formal rather than meaningful, which is the rationale for the safeguard of an approval by a higher ranking officer. For these reasons, the Court is satisfied that the findings by the ITAT cannot be distributed. 10. Respectfully following the above decision, I quash the impugned reassessment order and allow the grounds of appeal of the assessee. 11. In view of our above finding, the other grounds ta ..... X X X X Extracts X X X X X X X X Extracts X X X X
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