2023 (9) TMI 692

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....#39;the Act, 1961') seeking to re-open the assessment that was completed on 30.12.2019 under Section 143(3) of the Act, 1961. 2. The case on record indicate that a survey was conducted pursuant to which the petitioner was issued with show cause notice dated 18.12.2019, wherein it has been stated as follows: SHOW CAUSE NOTICE It is seen that you have cash during demonetization period, as per following table:- Sl. No. Account No. ending with Bank Total cash deposit during demonetization period Total cash deposit in SBN (demonetized currency) 1. 2856 Karur Vyshya Bank Rs. 15,00,000/- Rs. 15,00,000/- 2. 1259 ICICI Bank Rs. 55,10,000/- Rs. 55,10,000/- 3. 0362 ICICI Bank Rs. 57,10,000/- Rs. 57,00,000/-     ....

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....hallan copies available in ITMR that the cash deposits of Rs. 55,10,000/- was made in ICICI bank on various dates in the name of Lalitha Thanga Maligai of which the assessee is the proprietor. Hence the SBN deposited in ICICI Bank to the extent of Rs. 55,10,000/- needs to be brought to tax u/s. 68 of the IT Act. In view of the above findings, I have reasons to believe that the income chargeable to tax has escaped assessment and this is a fit case to reopen the assessment u/s. 148." 8. Thereafter, the petitioner has been issued with a show cause notice dated 25.03.2022. The petitioner sent response to the above show cause notice, on the following date by 26.03.2022 by 23.59 hours. The petitioner appears to have requested for a personal hear....

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.... order and also the notice does not call for any interference. 12.I have considered the arguments advanced by the learned counsel for the petitioner and the learned Senior Standing Counsel for the respondents. 13.Although the petitioner may have misguided the Department, stating that the account ending with Account Number 1259 at ICICI Bank, Nanganallur was not with the petitioner, the fact remains that the petitioner was issued with show cause notice on 25.08.2022. The time given to the petitioner was hardly 24 hours. The petitioner could not have responded to the same in time with full particulars. In any event, the petitioner had sought for a personal hearing which was also not granted to the petitioner. Therefore, I am of the view tha....