TMI Blog2020 (11) TMI 315X X X X Extracts X X X X X X X X Extracts X X X X ..... bad in law and accordingly quashed and appeal of the assessee is allowed. - ITA NO. 8748/DEL/2019 - - - Dated:- 9-11-2020 - SHRI H. S. SIDHU , JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI , ACCOUNTANT MEMBER Assessee by : Sh. Rohit Tiwari , Advocate Department by : Sh. R. K. Gupta , Sr. DR. ORDER PER H. S. SIDHU , JM This appeal filed by the Assessee is directed against the impugned order dated 02.09.2019 passed by the Ld. CIT(A)-16, New Delhi in relation to assessment year 2011-12 on the following grounds:- 1. That on the facts and in the circumstances of the case and in law, the order passed by the Ld. CIT(A) is bad in law. 2. That on the facts and circumstances of the case and in law, the Ld. CIT(A) er ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the case of the assessee was reopened u/s. 147 of the I.T. Income Tax Act, 1961 (hereinafter referred to as the Act ) on 31.3.2018 after taking approval of appropriate authorities. Accordingly, notice u/s. 148 of the Income Tax Act, 1961 was issued on 31.3.2017. In response to the same, the assessee filed its return of income electronically for the relevant assessment year in dispute on 22.08.2018 and declared income of ₹ 1,70,500/-. The Assessing Officer also issued notices u/s. 143(2)/142(1) of the Income Tax Act, 1961 to the assessee on 06.11.2018. In response to the same, the AR of the Assessee s appeared and filed details as asked by the Assessing Officer. The case was discussed with the Ld. AR for the assessee by the Assessing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cash deposit in the bank from undisclosed sources and therefore, made the addition of ₹ 39,96,550/- by completing the assessment u/s. 147/143(3) of the I.T. Income Tax Act, 1961 vide order dated 19.12.2018. Aggrieved by the aforesaid assessment order, the assesee appealed before the Ld. CIT(A) who vide its impugned order dated 02.9.2019 has partly allowed the appeal of the assessee. Against the impugned order dated 02.09.2019, assessee is in appeal before the Tribunal. 2.2 At the time of hearing, Ld. Counsel for the assessee narrated the facts of the case and only argued the legal issue regarding the assumption of jurisdiction u/s. 147 of the Income Tax Act, 1961 by the Assessing Officer which is bad in law, because the Assessing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Assessing Officer issued notice for initiating the reassessment proceedings u/s. 148 of the Income Tax Act, 1961 on the alleged ground that the assessee deposited cash in his bank account to the extent of ₹ 1,76,65,999/- as borne out from reasons recorded by Assessing Officer which is placed at page no. 1 of the paper book. Ld. Counsel for the assessee further stated that assessee has sought the intimation under RTI Income Tax Act, 1961 and established that such allegations were false, misleading and contrary to the facts. Complete details of bank account has already been placed in the paper book at page no. 16-17 and as per the bank statement, total credit balance at the end of the year is ₹ 6451.03 which has been overlook ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have heard both the parties and perused the records, especially the decision of the Hon ble Delhi High Court in the case of Pr. CIT vs. RMG Polyvinyl reported in (2017) 83 taxmann.com 348 (Delhi)/ 396 ITR 5, a copy of which the assessee has placed at page no. 94-98 of the paper book. For the sake of convenience, we are reproducing the para no. 5 of the said decision as under:- 5. As it transpired subsequently there were at least two glaring errors in the above reasons. The first error was that the Assessing Officer proceeded on the basis that no return of income is available in the AST database of Income Tax Department. Therefore, it is clear that the assessee has not filed return of income for the A.Y. 2004-05 and consequently has n ..... X X X X Extracts X X X X X X X X Extracts X X X X
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