TaxTMI 
TaxTMI 
2015 (11) TMI 1621
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.... M. P. Rastogi with Mr. K. N. Ahuja, Advocates for the Respondent. ORDER 1. This appeal by the Revenue is directed against the order dated 19th August, 2014 passed by the Income Tax Appellate Tribunal ('ITAT') in ITA No.352/Del/2009 for the Assessment Year ('AY') 2004-05. 2. The question urged by the Revenue is whether the ITAT was correct in holding that the Assessing Officer ('AO') was not ....
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....oney of the Assessee company is actually unexplained income of the Assessee company. The Assessee company has failed to disclose fully and truly all the material facts and source of these funds routed through bank accounts of the Assessee company. I, therefore, have reasons to believe that the income has escaped assessment within the meaning of Section 147 of the I.T. Act, 1961 for the Asstt. Year....
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....nsecticides (India) Ltd. (2013) 357 ITR 330 (Del). In the said decision it was held by this Court that: "the information on the basis of which the Assessing Officer had initiated proceedings under Section 147 of the Act are undoubtedly vague and uncertain and cannot be construed to be sufficient and relevant material on the basis of which a reasonable person could have formed a belief that incom....