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TMI Blog2020 (11) TMI 909X X X X Extracts X X X X X X X X Extracts X X X X ..... though the reasons recorded are vague, unsubstantiated and not based on any tangible material. (ii) That that the reasons are merely on the basis of AIR information and in absence of independent application of mind or investigation, the reopening u/s 148 is on mechanical basis and borrowed satisfaction. (iii) That AIR information p e r s e does not constitute tangible material and there being no other adverse material on record, the reopening u/s 147 is illegal and not sustainable for want of tangible material. (iv) That in absence of proper approval in terms of provisions of section 151 of the Act, the notice u/s 148 is illegal and without jurisdiction." 2(i) That on the facts and circumstances of the case, CIT(A) is also not just ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 lacs made u/s 69A of the Act. 4. Briefly stated the facts of the case that as per the information available with the AO he came to know that the assessee has deposited cash of Rs. 10 lacs in her saving bank account maintained with Vijaya Bank, Loni Road, Delhi. In response to the notice u/s 148 of the Act the assessee electronically filed return declaring total income of Rs. 1,32,390/-. In her return the assessee showed gross turn over of Rs. 16,54,863/-. 5. During the course of the scrutiny assessment proceedings, the assessee was asked to explain the source of cash deposit of Rs. 1o lacs. In her reply the assessee stated that she has been doing the business of procuring papad and snacks from the manufacturer and selling the same in re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e for Assessment Year 2010-11 and the only return which was filed, was in response to notice u/s.148 on 27.08.2018. In the said return of income, the assessee had declared income of Rs. 1,79,200/- which was shown as business income u/s.44AD based on the total cash deposits appearing in her bank account. Since issue of validity of notice u/s.148 and u/s.147 has not been argued by the ld. counsel, therefore, the same are treated to be not pressed. 8. The assessee's plea all throughout has been that she has been carrying out petty business activities like purchase and sale of artificial jewellery, bed-sheets and other items from various places and also giving coaching to the students. The aggregate cash deposits in her account for the entire ..... X X X X Extracts X X X X X X X X Extracts X X X X
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