TMI Blog2022 (3) TMI 611X X X X Extracts X X X X X X X X Extracts X X X X ..... during the course of assessment proceedings for the purpose of reaching the conclusion that the bank deposits were indeed out of withdrawals from the bank, there is no prescribed format for writing an assessment order and a perusal of the assessment order would show that the Assessing officer has duly mentioned that the required documents were examined and that the daughter of the assessee M/s. Renu Sahni has explained that the Time Deposits made by her father were from renewal of FDRs already made from the retirement benefits. So, in our considered opinion, the Assessing officer did conduct proper inquires, as warranted on the facts of this case, and we do not agree with the contention of the Ld. CIT DR that there was any lack of inquiry by the Assessing officer. PCIT, without making further inquiry on his own account, has simply stated in the impugned order that the Assessing officer was required to make more inquiries. PCIT has not pointed out as to what further inquiry was the Assessing officer required to make and as to how without those inquires the order of the Assessing officer was erroneous in so far as prejudicial to the interest of the Revenue. Thus exercise of revisi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Authorised Representative (AR) submitted that there was a delay of 147 days in filing the appeal. He drew our attention to the affidavit of the applicant for condonation of delay in this regard, wherein, it has been stated that the assessee's wife Mrs. Shashi Kanta had been taken seriously ill and the assessee could not approach the counsel's office for filing of appeal and signing of necessary papers. It has also been stated that his wife passed away on 07.04.2021. A copy of the Death Certificate of Mrs. Shashi Kanta has also been enclosed. It has been further stated that, thereafter, there was onset of second wave of COVID-19 resulting in lock down in Haryana in the months from April to June 2021. It has also been stated that the assessee himself was bed ridden due to his old age of 90 years and, subsequently, only when the assessee's daughter visited him in September 2021, the appeal could be filed when she could contact the assessee's counsel. It has been prayed that the delay due to the aforesaid reasons may kindly be condoned and the appeal be admitted for hearing. 4. Per contra, the Ld. CIT DR took no objection to the condonation of delay. 5. Having h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... awn cash having been used for any other purpose other than for being deposited for the purpose of making the FDRs. The Ld. AR reiterated that the Assessing officer had accepted the assessees's return of income after verification of bank statements and submissions of the assessee and had, thereafter, reached the conclusion that the contention of the assessee was correct, whereas, the Ld. PCIT had held the assessment order to be erroneous and prejudicial to the interest of Revenue without providing any reason and even without conducting any inquiry in this regard. The Ld. AR also placed reliance on numerous judicial precedents, which have been stated in the written submissions and have been taken on record. 7. Per contra, the Ld. CIT DR vehemently supported the Revision proceedings and submitted that there was a complete lack of inquiry at the end of the Assessing officer as he had failed to inquire into the source of deposits. The Ld. CIT DR harped upon the observation of the Ld. PCIT that there was delay in deposit after alleged withdrawals by the assessee and further there was no evidence that the withdrawals and deposits were linked. The CIT DR also submitted that the Ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Assessing officer. 8.1. The Hon'ble Delhi High Court in the case of CIT Vs. Sunbeam Auto Ltd. reported in [2011] 332 ITR 167 (Del.) in paragraph 17 has ruled that one has to keep in mind the distinction between 'lack of inquiry' and 'inadequate inquiry' and further if there was any inquiry, even inadequate, that would not by itself give occasion to the Commissioner to pass orders u/s. 263 of the Act, merely because he has a different opinion in the matter. It was further held by the Hon'ble Delhi High Court that if any Assessing officer, acting in accordance with law, makes a certain assessment, the same cannot be branded as erroneous by the Commissioner simply because, according to him, the order should have been written more elaborately. 8.2. Similar were the observation of the Hon'ble Delhi High Court in the case of ITO Vs. DG Housing Projects Ltd. [2012] 343 ITR 329 (Del). In this case, the Hon'ble Delhi High Court went on to observe that in case where there is in-adequate inquiry but no lack of inquiry, the CIT must give and record a finding that the order/enquiry made is erroneous and that this can happen only if an inquiry and verif ..... X X X X Extracts X X X X X X X X Extracts X X X X
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