TMI Blog2022 (9) TMI 725X X X X Extracts X X X X X X X X Extracts X X X X ..... eposits were verified by the Assessing Officer or not. In fact, the Assessment Order passed under Section 153A read with Section 143(3) is an order passed pursuant to the search, wherein it seems only the documents seized during the search were considered. The said order does not reveal that the aspect of cash deposits was specifically examined by the Assessing Officer. As far as non-consideration of petitioner s reply is considered, it is settled law that principle of natural justice is no unruly horse and no lurking land mine as held by Mr.Justice Krishna Iyer in Chairman, Board of Mining Examination and Chief Inspector of Mines Vs. Ramjee [ 1977 (2) TMI 140 - SUPREME COURT] . In fact, in M/s. S. Tikara Vs. State of M.P. Ors, [ 197 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ceedings cannot be initiated merely based on suspicion or surmise and the reasons for reopening as provided in the impugned Notices are insufficient and amount to a mere change of opinion on an aspect already known to the respondents. He states that the cash deposited in Bank during demonetization and / or remitted by way of cheques were duly disclosed in the Income Tax Return Form, and Financial Statements of the Assessee. He asserts that the cash deposited belonged to the assessee s customers/depositors and was not the assessee s money. He states that there has been no complaint against the Bank by its customers / depositors and all the data duly synchronized had been made available to the respondents on multiple occasions. 3. He ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r information, yet the AO did not respond to the request of the assessee. He points out that the assessee vide the letter dated 28th June, 2022 filed detailed reply, which was not considered by the Assessing Officer. He submits that the action of respondents in issuing order dated 30th July, 2022 without taking into consideration the detailed reply dated 28th June, 2022 filed by the petitioner in response to the respondent No.l s letter / Show Cause Notice dated 31st May, 2022 is illegal. 6. Having heard learned counsel for the petitioner, this Court is of the views that the petitioner has challenged the reopening proceedings on merits of the case. The Supreme Court in the case of Raymond Woollen Mills Ltd. vs. ITO And Ors., [1999 236 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 523011066582, 634011031880, 683011012827, 683011012860 had deposited huge cash amounting to Rs.141.28 crores during the period from 01st April, 2016 to 31st December, 2016 . From the Search Assessment order under Section 153A dated 29th December, 2018, it is not clear whether these deposits were verified by the Assessing Officer or not. In fact, the Assessment Order passed under Section 153A read with Section 143(3) dated 29th December, 2018 is an order passed pursuant to the search, wherein it seems only the documents seized during the search were considered. The said order does not reveal that the aspect of cash deposits was specifically examined by the Assessing Officer. The Supreme Court in the case of Income Tax Officer v. Techspan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ces of each case. Consequently, the questions that arise are whether there has been any unfair deal by the respondent? 9. In the present instance, in view of the allegation of cash deposits of 141.28 crores during demonetization period, this Court is of the opinion that even if the reply now sought to be relied upon by the petitioner was taken into account, notice under Section 148 of the Act was called for as a prima facie case of escapement of income was made out. Consequently, no ground for interdicting the reassessment is made out at this stage. 10. Accordingly, the present writ petition along with pending applications is dismissed. However, this Court clarifies that the Assessing Officer shall decide the matter on its own merit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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