Mere AIR Information not sufficient to believe Income escapement

CA Vinamar Gupta AIR Information without lawful enquiry is not sufficient to hold a belief that cash deposit is Income and hence can not form reason to believe that Income has escaped assessment, says ITAT Amritsar The ITAT Amritsar, in a recent Judgment has pronounced that the Income tax department should not issue Enquiry letters which do not with stand the touchstone of the legal bounds in which they are to be issued. ITAT Amritsar, in Amrik Singh, ITA 630/ASR/2015, pronounced on 11-05-2016, has dissected the provisions of the law to bring the real spirit behind issuing an Enquiry Letter....