https://www.taxtmi.com/caselaws?id=445195 The Delhi HC set aside the reopening order under Section 147 concerning undisclosed bank deposits. The petitioner denied ownership of HDFC Bank and DCB Bank accounts identified by the AO for FY 2014-15, providing statements from his actual accounts with ICICI Bank and Jammu Kashmir Bank. The AO proceeded without actionable material to reopen a closed assessment. Despite making no additions to declared income, a demand notice was issued. The CIT(A) order compounded revenue's problems as the AO failed to present his stance during proceedings. The court ruled in favor of the assessee. en-us Tue, 10 Oct 2023 00:00:00 +0530 Thu, 29 Aug 2024 14:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445195 The Delhi HC set aside the reopening order under Section 147 concerning undisclosed bank deposits. The petitioner denied ownership of HDFC Bank and DCB Bank accounts identified by the AO for FY 2014-15, providing statements from his actual accounts with ICICI Bank and Jammu Kashmir Bank. The AO proceeded without actionable material to reopen a closed assessment. Despite making no additions to declared income, a demand notice was issued. The CIT(A) order compounded revenue's problems as the AO failed to present his stance during proceedings. The court ruled in favor of the assessee. Case-Laws Income Tax Tue, 10 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445195