2026 (5) TMI 822

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ddition u/sec 68 of the Act made by the Assessing Officer. Further additional grounds of appeal are filed that the A.O has not issued notice u/sec 143(2) of the Act. 2. The brief facts of the case are that, the assessee has filed the return of income for A.Y. 2011-12 on 17-10-2011 disclosing a total income of Rs. 1,80,000/- and the return of income was processed u/sec 143(1) of the Act on 11.5.2012. There was search operations u/sec 132 of the Act on VPK Urban Credit Cooperative Society and certain cash transactions/ term deposits information was found in respect of the assessee in the F.Y. 2010-11 and the said information was not reflected in the return of income filed for A.Y. 2011-12. The Assessing officer (A.O) has reason to believe ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... 3. Subsequently the assessee filed letters requiring the documents filed by earlier counsel and also filed letter seeking directions u/sec 144A of the Act from the Addl CIT Margao and to provide document/ statements received u/sec 133(6) from the society. The assessee collected the details and also statement of senior branch manager of the Society recorded by the ITO for the transactions in F.Y.2010-11. Further the specimen signatures of the assessee when signed as Sonal Sunil jain and now reported in KYC as Sonal sunil Jolapure, vouchers and counterfoil note are referred to the director central forensic science laboratory. The assessee was provided cross examination of witness i.e senior manager, who has collected amount of deposits a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....gs of the AO and has dismissed the assessee appeal. Aggrieved by the order of the CIT(A), the assessee has filed an appeal before the Hon'ble Tribunal. 5. We heard the rival submissions, perused the material on record, Ld. AR submitted that CIT(A) has erred in sustaining the order of the Assessing Officer on the validity of notice u/s 148 of the Act. The Ld. AR contentions are that the notice u/s 148 of the Act was not initiated in accordance with the provisions of the Act and the assessee was not the same person on whom the notice was issued. Whereas the Assessing Officer has considered the facts and issued notice u/s 148 of the Act on the basis of search operations u/s 132 of the Act. VPK urban Credit Cooperative Society were certa....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....espect of Sonal Jolapura(daughter) and Sangeeta Jolapura (wife) Therefore, the facts mentioned that the assessee is known as Sonal Sunil Jolapura alias sonal Bahubali Jolapure and by two names and further the assessee has failed to explain the source of deposits. 6. The additional grounds raised by the assessee pertains to issue notice u/s 143(2) of the Act where the department substantiated that notice was issued on the same name. As per the submissions of the department in respect of CD and the statement recorded in the CD along with the names of family members where the father name is Sagar jain and also the family is known as jains. Whereas the PAN No. referred in the CD pertains to the assessee and now the assessee state that the So....