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Assessment Reopened on Alleged Cash Deposits That Did Not Exist
Case Law Details
- Case Name
- Pradeep Kumar Narsaria Vs ITO (ITAT Ranchi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Ranchi
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Pradeep Kumar Narsaria Vs ITO (ITAT Ranchi)
Reopening Based on Wrong Bank Account Details Set Aside – Matter Remanded to AO
The Ranchi Bench of the Income Tax Appellate Tribunal dealt with an appeal by Shri Pradeep Kumar Narsaria for AY 2015-16, challenging reassessment proceedings initiated on the basis of alleged large cash deposits.
Key aspects of the decision are:
Erroneous Basis for Reopening:
The Assessing Officer (AO) reopened the assessment alleging cash deposits of ₹2.05 crore in a bank account. However, the Tribunal found that:
The account number mentioned in th...
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