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PAN Mismatch Is Not Enough: Tribunal Orders Verification Before Treating Bank Deposits as Unexplained
Case Law Details
- Case Name
- Geetanjali Anil Kankrej Vs ITO (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
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Geetanjali Anil Kankrej Vs ITO (ITAT Pune)
Death, PAN Mismatch & Ignored Reply- Bank Deposits Already in Books? Tribunal Says ‘Verify First, Tax Later’-—Reassessment Remanded for Complete Recheck
Assessee, engaged in liquor business, filed return declaring income of Rs.12,15,090/-. Reopening was triggered u/s 147 based on information that cash deposits of Rs.97,28,000/- in two Bank of Maharashtra accounts were linked to PAN of Late Smt. Sulochana, former owner of Kishor Wine Shop. AO issued notice u/s 148 but, according to him, Assessee did not respond. AO completed reassessment u/s ...
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