2019 (5) TMI 637

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....63 of Income Tax Act, 1961 (for short "the Act") setting aside the order passed by the Assessing Officer (AO) and directing him to examine the case afresh after giving opportunity to the assessee, has been allowed. 2. The facts relevant are that during financial year relevant to Assessment Year(AY) 2009-10, the assessee made cash deposits of Rs. 33,31,700/- in his Saving Bank account maintained with the State Bank of India (SBI) Branch-Suratgarh. The assessee was asked to explain the source of the said deposit but he did not file any reply. The assessee was served with notice dated 22.4.13, issued under Section 148 of the Act, in response whereof the assessee vide letter dated 9.7.13 submitted that he had already filed his return of income....

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....3,31,700/- being not satisfactorily explained by the assessee and failure of AO to bring the same to tax. That apart, the issue with regard to withdrawal of meagre Rs. 57,525/- by the assessee towards household expenses considering the same to be very low keeping in view the financial status of the assessee was also raised. After due consideration, the PCIT(A) vide order dated 28.3.16 set aside the Assessment Order dated 30.12.13 passed by the AO and restored the case to the AO for examination afresh in light of the observations made in the order after giving an opportunity of hearing to the assessee. 4. Aggrieved by the order passed by PCIT(A) as aforesaid, the assessee preferred an appeal before the ITAT, which has been allowed by the o....

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....ucting a proper inquiry arrived at a categorical finding that the entries appearing in the bank account of the assessee were verifiable from the cash book and also the bill produced by the assessee and thus, the reason assigned for initiating the proceedings under Section 263 of the Act by the PCIT(A) were apparently contrary to record and thus, the ITAT has committed no error in setting aside the proceeding initiated by the PCIT(A) as invalid and void ab initio. Learned counsel would submit that in view of the categorical finding arrived at by the AO, affirmed by the ITAT no substantial question of law arises for consideration of this court in the present appeal. 8. We have considered the rival submissions and perused the material on reco....