Mere cash deposit in bank not sufficient to believe Escapement of Income

Vasantkumar Prahladbhai Kanudawala Vs ITO (ITAT Ahmedabad) Only information in the possession of the AO for assuming jurisdiction to reopen the case of the assessee was that of cash deposited in the bank account of the assessee, and this information has been held in various decisions of the ITAT cited by the ld. counsel for the assessee before us, is not sufficient for formation of belief of escapement of There is no information on record that on receipt of this information by the AO any inquiry or investigation was conducted by him so as to gather information regarding source of cash deposits...