2017 (12) TMI 1910

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.... PER CHANDRA POOJARI, ACCOUNTANT MEMBER: This appeal is filed by the assessee, aggrieved by the order of the Learned Commissioner of Income Tax(A)-5, Chennai dated 21.06.2017 pertaining to assessment year 2011-12. 2. The main grievance of the assessee in her appeal is with regard to confirming the reopening of assessment passed u/s.143(3) r.w.s147 of the Act by Ld. CIT(A). 3. the facts....

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....xplanation 2(a) to sec.147 of the Income Tax Act, 1961." Consequently, the assessment was completed by considering 41,000/- deposited in bank account as unexplained cash deposit and also opening balance available as on 01.04.2011 at 83,000/- totaling of 1,24,000/- added to the income of assessee. Aggrieved the order of ld. Assessing Officer, the assessee challenged before Ld. CIT(A) that there ....

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....ords, it cannot be said that the AO has independently applied his mind so as to arrive the satisfaction regarding escapement of income. On the other hand, the reasons recorded suggest that the satisfaction was not that of ld. Assessing Officer but of some other authority i.e. based on the information received from DDIT (Inv.) Unit IV(2), Chennai-34 vide letter No. DDIT/Unit-IV(2)/STR/2013-14 dt.10....

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....rial on which a reasonable person could have formed the requisite belief. Whether material would conclusively prove escapement of income is not the concern at that stage. This is so because the formation of the belief is within the realm of the subjective satisfaction of the Assessing Officer. 5. In the present case, it is nowhere the case of the AO that he is having cause or justification to k....